Class action, page-49

I suspect the CEO had some encouraging data for a quarter or received some information on prospects that got him over excited. Then they had delays in approvals and the cancellation of the supplier agreement when he probably thought he could negotiate more favourable terms. And likely European sales have been slower than expected because of problems with sales personel. Its not just one thing, but overall its probably cost a significant percentage of sales, maybe $3m in revenue this Q3 and $4m in revenue for Q4. Maybe he had an insight before the CR but didn't want to do the sums and announce it at that time and has left it until the accounting has been officially done for Q3. It is a "target" afterall, but when added up over half a year its a substantial under performance. Reality bites, but maybe he feels he will be forgiven if he delivers TAVR.