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Doug Gerlach
Cambridge, MA
http://www.iclub.com/
President, ICLUBcentral
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| 05/25/2007 11:25 AM |
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On April 30, 2007, American Medical Systems Holdings, Inc. announced their first quarter results. The company generated revenues of $108.4 million for the first quarter of 2007, a 47 percent increase over sales of $73.6 million in the comparable quarter of 2006. The first quarter of 2007 included $26.9 million of revenue from the Laserscope business, acquired in July 2006. Excluding Laserscope revenues, revenue for the first quarter of 2007 was $81.5 million, which represents 11 percent growth over the same quarter of 2006. Adjusted for foreign exchange, the Company’s base business growth rate was 9 percent.
The Company reported net income for the first quarter of 2007 of $3.7 million, or $0.05 per share. This compares to net income for the same period last year of $11.5 million, or $0.16 per share. Net income for the first quarter of 2007 includes a loss from discontinued operations from the aesthetics business, which was sold during the quarter. Net income from continuing operations for the first quarter 2007 was $4.4 million, or $0.06 per share. On April 10, 2007, the Company provided revised earnings guidance from continuing operations for the first quarter of $0.05 to $0.07 per share.
The EPS peformance is certainly a continuing concern, but nothing that was unexpected. The company says that it experienced strong demand in the first quarter in its erectile restoration, laser therapy and women’s health businesses. The CEO said, “While the first quarter was clearly a disappointment, we remain confident in our ability to address our supply issues during the second quarter. The underlying strength of demand across much of our business in the first quarter means we are poised to see strong revenue performance as we exit the second quarter.” They also reiterated their full year 2007 revenue guidance of $475 to $500 million and reported earnings per share from continuing operations of $0.63 to $0.70.
Here is the full press release:
American Medical Systems Reports First Quarter Financial Results
Doug |
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Posting from ICLUBcentral world headquarters in the Harvard Square's historic College House, Cambridge, MA
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