Inverness Medical Innovations Announces First Quarter 20...(ing of 3411000 common stock equivalent s...),Health

Date:4/27/2009

ing of 3,411,000 common stock equivalent shares from the potential conversion of convertible debt securities and 10,765,000 common stock equivalent shares from the potential conversion of Series B convertible preferred stock. The diluted net income per common share calculation for the three months ended March 31, 2009, on an adjusted cash basis, includes the add back of interest expense related to the convertible debt of $0.7 million and the add back of preferred stock dividends related to the Series B convertible preferred stock resulting in net income available to common stockholders of $56.8 million for the three months ended March 31, 2009.

(l) Included in the weighted average dilutive common shares for the calculation of net income per common share on an adjusted cash basis for the three months ended March 31, 2008 are dilutive shares consisting of 5,880,000 common stock equivalent shares from the potential exercise of stock options and warrants and conversion of convertible debt. The net income per diluted share calculation for the three months ended March 31, 2008, on an adjusted cash basis, is calculated as if the convertible debt was converted resulting in net income available to common shareholders of $39.9 million.

              Inverness Medical Innovations, Inc. and Subsidiaries
                     Condensed Consolidated Balance Sheets
                                   (in $000s)

                                                      March 31,  December 31,
                                                          2009          2008
                                                          ----          ----
                                                    (unaudited)
    ASSETS
    ------
    CURRENT ASSETS:
    Cash and cash equivalents                         $205,181      $141,324
    Restricted cash                                      3,705         2,748
    Marketable securities  
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SOURCE  Inverness Medical Innovations, Inc.
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