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

on expense of $55.0 million and $10.1 million in the second

quarter of 2008 and 2007 GAAP results, respectively, including $11.7

million and $3.3 million charged to cost of sales, $1.0 million and $0.7

million charged to research and development and $42.1 million and $6.0

million charged to selling, general and administrative, in the respective

quarters, with $0.2 million and $0.1 million charged through equity

earnings of unconsolidated entities, net of tax during the respective

quarters.

(c) Restructuring charges associated with the decision to close facilities

of $23.6 million and $0.4 million for the second quarter of 2008 and 2007

GAAP results, respectively. The $23.6 million charge for the three months

ended June 30, 2008 included $4.8 million charged to cost of sales, $3.2

million charged to research and development, $3.0 million charged to

selling, general and administrative, $6.6 million charged to interest

expense and $6.0 million charged through equity earnings of unconsolidated

entities, net of tax. The $0.4 million charge for the second quarter of

2007 was charged to selling, general and administrative. These charges

have been excluded from net income or loss because they have a significant

impact on results yet do not occur on a consistent or regular basis in the

Company's business.

(d) Compensation costs of $7.2 million and $47.3 million associated with

stock-based compensation expense for the second quarter of 2008 and 2007

GAAP results, respectively, including $0.4 million and $0.1 million

charged to cost of sales, $1.1 million and $0.5 million charged to

research and development and $5.7 million and $46.7 million charged to

selling, general and administrative, in the respective quarters. The

$46.7 million charged to selling, general and administrative during the

2007 quarter include
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SOURCE Inverness Medical Innovations, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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