Inverness Medical Innovations Announces Third Quarter 20...(Income tax provision (benefit) ...),Health

Date:10/27/2009

Income tax provision (benefit) (4,696) 26,018(k) 21,322 Equity earnings of unconsolidated entities, net of tax 3,150 237(b) 3,387 Net income (loss) $(3,659) $46,792 $43,133 Preferred stock dividends $(5,393) $(5,393) Net income (loss) available to common stockholders $(9,052) $37,740 Net income (loss) per common share Basic $(0.12) $0.48 Diluted $(0.12)(l) $0.46(n) Weighted average common shares - basic 77,995 77,995 Weighted average common shares - diluted 77,995(l) 83,169(n)

(a) In calculating net income or loss on an adjusted cash basis, the Company excludes from net income or loss (i) certain non-cash charges, including amortization expense and stock-based compensation expense, (ii) non-recurring charges and income, and (iii) certain other charges and income that have a significant positive or negative impact on results yet do not occur on a consistent or regular basis in its business. In determining whether a particular item meets one of these criteria, management considers facts and circumstances that it believes are relevant. Management believes that excluding such charges and income from net income or loss allows investors and management to evaluate and compare the Company's operating results from continuing operations from period to period in a meaningful and consistent manner. Due to the frequency of their occurrence in its business, the Company does not adjust net income or loss for the costs associated with litigation, including payments made or received through settlements. It should be noted that "net in
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SOURCE Inverness Medical Innovations, Inc. Copyright©2009 PR Newswire. All rights reserved

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