Flow meter factor?

I was noting the details from a mag flow meter nameplate, and this got my head scratching: Factor 400 Lit/Min/m/sec, can anyone explain what this is.
TIA
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I think it would be this. A mag flowmeter measures, essentially, the velocity of the water. Given the velocity of the water and the fact that the magmeter knows its own diameter etc., you would calibrate it by relating the m/s of flow velocity to the L/min of flow volume. Hence L/min (of flow volume) per m/s (of flow velocity), or L/min/m/s.
YW
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