* Expects to take $1.1 mln charge in Q2
* To shut California plant, to take $0.4 mln charge
* Shares down 4 percent
May 20 LeMaitre Vascular Inc said it
would stop the sale of its aortic stent grafts from July and
shut a plant in California, sending its shares down 4 percent
after the bell.
The company, which provides peripheral vascular devices and
implants, said it would stop manufacturing its TAArget/UniFit
aortic stent grafts and expects to take $1.1 million non-cash
charges in the second quarter.
It would continue its European distribution of the Endologix
LeMaitre Vascular expects to close the plant during the
second and third quarters and will take a charge of $0.4 million
in the two quarters.
The company now sees sales of $61 million in 2011, compared
with the earlier projection of $62 million.
LeMaitre Vascular's shares were down 4 percent at $6.87 in
after-market trade on Friday. They closed at $7.18 on Nasdaq.
(Reporting by Shravya Jain in Bangalore; Editing by Don