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Inverness Medical Innovations Announces Fourth Quarter 2008 Results
Date:2/18/2009

quarter of 2008 and 2007 GAAP results, respectively, including $0.5 million and $0.3 million charged to cost of sales, $1.2 million and $0.9 million charged to research and development and $5.0 million and $4.1 million charged to selling, general and administrative, in the respective quarters. (e) A write-off in the amount of $0.8 million during the fourth quarter of 2007, relating to inventory write-ups recorded in connection with the acquisitions of Cholestech Corp. and HemoSense, Inc. during the third and fourth quarters, respectively, of 2007. (f) Purchase of in-process research and development in the fourth quarter of 2007 includes a write-off of $4.8 million associated with the value of in-process research and development costs incurred in connection with our acquisition of Diamics, Inc. (g) A $3.9 million unrealized foreign currency loss associated with a cash escrow established in connection with the acquisition of BBI Holdings Plc. (h) Tax effect on adjustments as discussed above in notes (b), (c), (d), (e), (f) and (g). (i) Included in the weighted average diluted common shares for the calculation of net income per common share on a GAAP basis for the three months ended December 31, 2008, are dilutive shares consisting of 724,000 common stock equivalent shares from the potential exercise of stock options and warrants. Potential dilutive shares consisting of 3,411,000 common stock equivalent shares from the potential conversion of convertible debt securities and potential dilutive shares consisting of 10,502,000 common stock equivalent shares from the potential conversion of Series B convertible preferred stock were not included in the calculation of net income per common share on a GAAP basis for the three mon
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SOURCE Inverness Medical Innovations, Inc.
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Related medicine news :

1. Inverness Medical Innovations Schedules Conference Call for 10:00 a.m. ET February 18, 2009 to Discuss Fourth Quarter 2008 Results
2. James Roosevelt, Jr. Joins Inverness Medical Innovations Board of Directors
3. Inverness Medical Innovations to Present at the 2009 UBS Global Healthcare Services Conference on February 10, 2009
4. Inverness Medical Innovations Presents the pima(TM) Point-of-Care CD4 Instrument at ICASA 2008
5. Inverness Medical Innovations to Participate at JP Morgan Healthcare Conference on January 13, 2009
6. Inverness Medical Innovations Declares Dividend on its Series B Convertible Perpetual Preferred Stock
7. Inverness Medical Innovations to Present at RBC Capital Markets 2008 Healthcare Conference on December 11, 2008
8. Inverness Medical Innovations, PrognostiX Sign Distribution Agreement for CardioMPO(TM) Test
9. Inverness Medical Innovations to Present at the Third Annual JMP Securities Healthcare Focus Conference on October 7, 2008
10. Inverness Medical Innovations Announces 4th Generation Rapid HIV Test - Determine(TM) HIV-1/2 Ag/Ab Combo
11. Law Offices of Howard G. Smith Announces 24 Days Remaining to Move to Be a Lead Plaintiff in the Shareholder Lawsuit Against Inverness Medical Innovations, Inc.
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