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

stock options and warrants. Potential

dilutive shares consisting of 2,868,000 common stock equivalent

shares from the potential conversion of convertible debt securities

for the three months ended September 30, 2007 were not used in the

calculation of diluted net income per common share, or on an

adjusted cash basis, because inclusion thereof would be

antidilutive.

Inverness Medical Innovations, Inc. and Subsidiaries

Condensed Consolidated Statements of Operations and

Reconciliation to Non-GAAP Adjusted Cash Basis Amounts

(in $000s, except per share amounts)

Nine Months Ended September 30, 2008

Non-GAAP

Non-GAAP Adjusted Cash

GAAP Adjustments Basis(a)

Net revenue $1,212,160 $- $1,212,160

Cost of revenue 597,520 (53,560)(b)( c ) 543,960

(d)(e)

Gross profit 614,640 53,560 668,200

Gross margin 51% 55%

Operating expenses:

Research and development 86,426 (13,080)(b)( c )(d) 73,346

Purchase of in-process

research and development - -

Selling, general and

administrative 496,687 (142,286)(b)( c )(d) 354,401

Total operating expenses 583,113 (155,366) 427,747

Operating income

(loss) 31,527 208,926 240,453

Interest and other income

(expense), net (84,151) 8,615( c )(h) (7
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SOURCE Inverness Medical Innovations, Inc.
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Related biology technology :

1. Inverness Medical Innovations Schedules Conference Call for 10:00 a.m. ET October 29, 2008 to Discuss Third Quarter 2008 Results
2. Inverness Medical Innovations to Present at the UBS Global Life Sciences Conference on September 22, 2008
3. Inverness Medical Innovations to Attend the Goldman Sachs Diagnostics Conference on September 18, 2008
4. Inverness Medical Innovations Declares Dividend on its Series B Convertible Perpetual Preferred Stock
5. Inverness Medical Innovations to Present at the Morgan Stanley Global Healthcare Unplugged Conference on September 9, 2008
6. Inverness Medical Innovations Features Innovative TB Diagnostic - Clearview(R) TB ELISA at AIDS 2008
7. Inverness Medical Innovations to Present at Canaccord Adams 28th Annual Growth Conference on August 12, 2008
8. Inverness Medical Innovations Announces Second Quarter 2008 Results
9. Inverness Medical Innovations to Present at Jefferies 2nd Annual Healthcare Conference held on June 25, 2008
10. Inverness Medical Innovations to Present at 7th Annual Needham & Company, LLC Biotechnology & Medical Technology Conference on June 12, 2008
11. Inverness Medical Innovations to Present at FBR Capital Markets 12th Annual Spring Investor Conference on May 28, 2008
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