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

velopment and $2.2 million charged to selling, general and administrative expense. 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 $26.4 million and $57.4 million associated with stock-based compensation expense for the year 2008 and 2007 GAAP results, respectively, including $1.5 million and $0.6 million charged to cost of sales, $4.6 million and $2.2 million charged to research and development and $20.3 million and $54.6 million charged to selling, general and administrative. The $54.6 million charged to selling, general and administrative during the year-ended December 31, 2007 includes $45.2 million of costs associated with stock option acceleration and conversion in connection with our acquisition of Biosite, Inc. (e) A write-off in the amount of $2.0 million and $8.2 million during the year ended December 31, 2008 and 2007, respectively, relating to inventory write-ups recorded in connection with the acquisitions of Panbio Limited and BBI Holdings Plc. during the first quarter of 2008 and Biosite, Inc., Cholestech Corp. and HemoSense, Inc. during the second, third and fourth quarters of 2007, respectively. (f) Purchase of in-process research and development during the year ended December 31, 2007 includes a write-off of $169.0 million and $4.8 million associated with the value of in-process research and development costs incurred in connection with our acquisitions of Biosite, Inc. and Diamics, Inc., respectively. (g) Charges totaling $15.6 million associated with the write-off of debt origination costs and a prepayment premium paid upon early extinguishment o
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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
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9. Inverness Medical Innovations to Present at the Third Annual JMP Securities Healthcare Focus Conference on October 7, 2008
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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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