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AMICAS Reports Financial Results for the Fourth Fiscal Quarter and Year Ended December 31, 2008
Date:2/25/2009

Operating Loss: Operating loss for the fourth quarter of 2008 was $29.1 million as compared to an operating loss of $1.9 million for the fourth quarter of 2007.

Net Loss/Income: The Company's net loss for the fourth quarter of 2008 was $28.7 million, or $0.81 per share, including impairment charge of $27.5 million, or $0.78 per share, compared to a net loss of $902,000, or $0.02 per share, for the fourth quarter of 2007.

Cash and Cash Flow: AMICAS ended the fourth quarter of 2008 with a cash, cash equivalents, and marketable securities balance of $55.0 million, no long term debt, and working capital of $47.0 million. For the fourth quarter ended December 31, 2008, net cash provided by operations was $1.2 million.

Stock Repurchase: In the fourth quarter of 2008, the Board of Directors directed the Company to initiate a $5 million stock repurchase plan. The Company repurchased approximately 193,000 shares of its common stock for approximately $290,000 in the fourth quarter of 2008.

Fiscal Year-to-Date Financial Highlights

Revenue: Total revenue for the year ended December 31, 2008, was $50.4 million, compared to $49.9 million for the year ended December 31, 2007.

Non-GAAP Operating Loss: Operating loss, excluding impairment, for the year ended December 31, 2008, was $4.6 million, compared to a non-GAAP operating loss of $4.5 million for the year ended December 31, 2007.

Adjusted EBITDA: Adjusted EBITDA, a non-GAAP financial measure, was $233,000 for the year ended December 31, 2008, compared to $759,000 for the year ended December 31, 2007.

Non-GAAP Net Loss/Income: The Company's net loss, excluding impairment, for the year ended December 31, 2008, was $2.6 million compared to a non-GAAP net loss of $862,000 for the year ended December 31, 2007.

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SOURCE AMICAS, Inc.
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