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Inverness Medical Innovations Announces Third Quarter 2008 Results
Date:10/29/2008

on to close

facilities of $5.8 million and $0.5 million in the third quarter of

2008 and 2007 GAAP results, respectively. The $5.8 million charge

for the three months ended September 30, 2008 included $1.8 million

charged to cost of sales, $0.3 million charged to research and

development, $3.4 million charged to selling, general and

administrative and $0.3 million charged to interest expense. The

$0.5 million charge for the third quarter of 2007 includes $0.3

million charged to research and development and $0.2 million 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 $7.0 million and $3.3 million associated with

stock-based compensation expense in the third 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 $0.6 million

charged to research and development and $5.5 million and $2.5

million charged to selling, general and administrative, in the

respective quarters.

(e) A write-off in the amount of $6.3 million during the third quarter

of 2007, relating to inventory write-ups recorded in connection with

the acquisitions of Biosite, Inc. and Cholestech Corp. during the

second and third quarters of 2007.

(f) Purchase of in-process research and development during the third

quarter of 2007 includes a write-off of $169.0 million associated

with the value of in-process research and development costs incurred

in connection with our acquisition of Biosite, Inc.

(g) T
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SOURCE Inverness Medical Innovations, Inc.
Copyright©2008 PR Newswire.
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