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AMICAS Reports Financial Results for the First Quarter Ended March 31, 2008
Date:4/30/2008

2008.

Stock Repurchase: During the fourth quarter of 2007, the Board of

Directors directed the Company to initiate a $25 million stock repurchase

plan. The Company repurchased approximately 1,681,000 shares of its common

stock for approximately $4.5 million in the first quarter of 2008. The

Company has repurchased approximately 1,982,000 shares for approximately

$5.3 million in total under this program. Under a previously authorized

stock repurchase plan, during 2006, the Company repurchased 4.5 million

shares of its common stock for approximately $15.0 million, the total

amount authorized by the AMICAS Board of Directors under the prior plan.

Pro-forma EBITDA: Pro-forma EBIDTA, a non-GAAP financial measure, was

$33,000 in the first quarter of 2008 as compared to $549,000 in the first

quarter of 2007.

"Pro-forma EBITDA," refers to net income, adjusted for amortization,

depreciation, interest, taxes, and stock compensation expense. A

reconciliation of net (loss) income determined under GAAP to pro-forma

EBITDA is included below. Management believes that its pro-forma EBITDA

measurement, when viewed in addition to the Company's reported GAAP

results, provides an additional meaningful measure of operating

performance, enabling investors to more thoroughly evaluate current

performance in comparison to past performance. This information will

necessarily differ from comparable information that may be provided by

other companies and should not be considered in isolation or as an

alternative to the Company's operating and other financial information

determined under GAAP.

Business Perspective

Dr. Stephen Kahane, president, chief executive officer, and chairman of AMICAS, said, "We have continued to maintain positive cash flow from operations while building our business through significant investments in both innov
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SOURCE AMICAS, Inc.
Copyright©2008 PR Newswire.
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