Exhibit 99.1
DATE: May 4, 2010
FOR IMMEDIATE RELEASE
AMERICAN MEDICAL SYSTEMS STARTS 2010 WITH STRONG FIRST QUARTER PERFORMANCE
    First quarter sales of $134.9 million grows 9.1% over prior year and exceeds Company guidance
 
    Non-GAAP adjusted EPS of $0.29 grows 16% over prior year; GAAP EPS of $0.27 up 17% over prior year
 
    Solid cash generation results in debt reduction of nearly $46 million in the quarter
MINNEAPOLIS, May 4, 2010 — American Medical Systems Holdings, Inc. (NASDAQ: AMMD) reported revenue of $134.9 million for the first quarter of 2010, a 9.1 percent increase over sales of $123.6 million in the comparable quarter of 2009. The weakening of the U.S. dollar compared to the first quarter of 2009 positively affected revenue comparisons for the quarter by $2.6 million. Adjusting for this impact of foreign currency, results in first quarter revenue growth of 7.1 percent over the same period last year. The first quarter revenue of $134.9 million exceeds the Company’s guidance of $127 to $131 million. On a GAAP basis, the Company reported first quarter 2010 net income of $20.7 million, or $0.27 per share, compared to net income in the same period last year of $17.1 million, or $0.23 per share. Included in the first quarter 2010 net income was a $7.7 million pre-tax gain on the sale of the Her Option ® global endometrial ablation product line. Included in the first quarter 2009 net income was a $4.6 million pre-tax gain on the early extinguishment of approximately $27 million of convertible senior subordinated notes.
The Company reported strong non-GAAP adjusted earnings per share performance in the first quarter of 2010 of $0.29 per share compared to $0.25 per share in the comparable period last year. This exceeds the Company’s non-GAAP adjusted earnings per share guidance of $0.23 to $0.26 for the first quarter. Non-GAAP adjusted earnings per share excludes the impact of the amortization of intangible assets and amortization of financing costs, both significant non-cash items affecting comparability to other companies. The non-GAAP adjusted net income for the first quarter of 2010 also excludes the gain on the sale of the Her Option ® product line during the quarter. The first quarter of 2009 non-GAAP adjusted net income excludes the gain on the early extinguishment of convertible notes.
Men’s Health sales of $64.5 million in the first quarter, represented an increase of 8.4 percent on a reported basis compared to the same quarter last year, and grew 6.2 percent on a constant currency basis. Record performance in the erectile restoration product line was the driver for this strong performance, offset by flat revenue on a constant currency basis in male continence in the first quarter. The BPH therapy business increased 2.1 percent on a reported basis, with revenue consistent with last year on a constant currency basis, at $25.9 million during the quarter, with growth in the U.S. and Asia Pacific/Latin America geographies muted by declines in Europe. The Women’s Health business, excluding the Her Option® product line, which was sold during the quarter, increased 17.8 percent on a reported basis and 15.8 percent on a constant currency basis to $42.7 million in the first quarter. Pelvic Floor Repair had its strongest growth quarter yet, driven by the launch of Elevate® anterior in mid-2009. This strong growth was partially offset by relatively flat female continence product sales in the quarter. Revenue from uterine

 


The following information was filed by American Medical Systems Holdings Inc on Tuesday, May 4, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate American Medical Systems Holdings Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by American Medical Systems Holdings Inc.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account