8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_____________________________

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

_____________________________

Date of Report (Date of earliest event reported): November 1, 2006

Orthofix International N.V.

(Exact name of Registrant as specified in its charter)

Netherlands Antilles	0-19961	N/A
(State or other jurisdiction of incorporation)	Commission File Number	(I.R.S. Employer Identification Number)

_____________________________

7 Abraham de Veerstraat
Curaçao
Netherlands Antilles	N/A
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: 011-59-99-465-8525

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01. Regulation FD Disclosure.

On November 1, 2006, Orthofix International N.V. (the “Company”) provided earnings guidance at an investor conference that was available to the public via webcast. This earnings guidance included the use of a non-GAAP (generally accepted accounting principles) financial measure, which the Company refers to as “Cash EPS from Operations.” Furnished herewith as Exhibit 99.1 is the guidance provided using this non-GAAP financial measure, a description of this measure and a reconciliation of this measure to GAAP net income per common share-diluted.

Item 9.01. Financial Statements and Exhibits

(c) Exhibits

99.1Reconciliation and Discussion of a Non-GAAP Financial Measure.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	ORTHOFIX INTERNATIONAL N.V.
Dated: November 3, 2006	By:	/s/ Thomas Hein
		Name: Thomas Hein
		Title: Chief Financial Officer

EX-99.1

ORTHOFIX INTERNATIONAL N.V.

NOVEMBER 1, 2006 SUSQUEHANNA EMERGING TRENDS

CONFERENCE AT THE PENINSULA HOTEL IN NEW YORK CITY

RECONCILIATION AND DISCUSSION OF A

NON-GAAP FINANCIAL MEASURE

Non-GAAP Information

In addition to disclosing results determined in accordance with generally accepted accounting principles (or GAAP), Orthofix International N.V. (the Company) also discloses a non-GAAP financial measure which it refers to as "Cash EPS from Operations."  The Company calculates Cash EPS from Operations by adjusting reported GAAP net income per common share-diluted for the following items:  (a) "specified items", which represent certain charges and credits which management believes will not be recurring on a regular basis; (b) stock-based compensation expense that the Company records pursuant to FAS 123(R); and (c) all Company amortization expenses.  The most directly comparable GAAP measure for the Company's Cash EPS from Operations is reported net income per common share-diluted.  The following table provides a reconciliation from reported net income per common share-diluted to Cash EPS from Operations for the periods set forth therein.

Reconciliation of non-GAAP performance measure to nearest comparable GAAP measure:

	Q405A		Q406E
GAAP net income per common share-diluted	$	0.44	$	0.39 - 0.43
Specified items (1)		-		-
Sub-total of specified items	$	0.00	$	0.00
GAAP net income per common share-diluted ex specified items	$	0.44	$	0.39 - 0.43
FAS 123(R) expense	$	0.00	$	0.07
GAAP net income per common share-diluted ex non-op items, ex FAS 123(R)	$	0.44	$	0.46 - 0.50
Amortization	$	0.07	$	0.19
Cash EPS from Operations	$	0.51	$	0.65 - 0.69

(1) During the periods presented, no "specified items" were excluded from GAAP net income per common share-diluted when calculating Cash EPS from Operations.

By disclosing this non-GAAP information, management intends to provide investors with additional information to further analyze the Company’s performance and underlying trends.  In order to better assess operating trends, management utilizes a measure of adjusted net income per diluted common share on a non-GAAP basis that excludes these specified items, net of tax effects.

Management believes net income per common share-diluted excluding specified items provides useful supplemental information to management and investors regarding the performance and underlying trends of the Company’s business operations and facilitates comparisons to its historical operating results.  Management uses this information internally for forecasting, and as an alternate measure for evaluating the effectiveness of the Company’s operational strategies.  Management believes it is important to provide investors with the same metrics used by management to measure operating performance, which assists investors in analyzing the underlying trends in the Company’s business over time.

Non-GAAP information should not be viewed as a substitute for, or superior to, net income per common share-diluted or other data prepared in accordance with GAAP as measures of the Company’s profitability or liquidity.  Users of this financial information should consider the types of events and transactions for which adjustments have been made. It should be noted that the Company's non-GAAP information may be different from the non-GAAP information provided by other companies.