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Inverness Medical Innovations Announces Second Quarter 2008 Results
Date:7/29/2008

hment

of related debt during the six months ended June 30, 2007, in conjunction

with our financing arrangements.

(g) A $1.7 million net realized foreign currency loss associated with a

cash escrow established in connection with the acquisition of BBI Holdings

Plc.

(h) A $1.9 million foreign currency gain realized on the settlement of

intercompany notes.

(i) Tax effect on adjustments as discussed above in notes (b), (c), (d),

(e), (f), (g) and (h).

(j) For the six months ended June 30, 2008 and 2007, potential dilutive

shares were not used in the calculation of diluted net loss per common

share under GAAP because inclusion thereof would be antidilutive.

(k) Included in the weighted average diluted common shares for the

calculation of net income per common share for the three months ended June

30, 2008, on an adjusted cash basis, are dilutive shares consisting of

2,344,000 common stock equivalent shares from the potential exercise of

stock options and warrants and potential dilutive shares consisting of

3,411,000 common stock equivalent shares from the potential conversion of

convertible debt securities. The net income per diluted share calculation

for the six months ended June 30, 2008, on an adjusted cash basis,

includes the add back of interest expense related to the convertible debt

of $1.5 million resulting in net income available to common stockholders

of $70.2 million. Potential dilutive shares consisting of 3,004,000 common

stock equivalent shares from the potential conversion of Series B

convertible preferred stock for the six months ended June 30, 2008 were

not used in the calculation of diluted net income per common share, on an

adjusted cash basis, because inclusion thereof would be antidilutive.

(l) Included in the weighted average diluted common shares for the

calculation of ne
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SOURCE Inverness Medical Innovations, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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