Exhibit 99.1
DATE: August 3, 2010
FOR IMMEDIATE RELEASE
AMERICAN MEDICAL SYSTEMS ANNOUNCES SECOND QUARTER 2010 FINANCIAL RESULTS
    Second quarter sales of $136 million grows 7.9% over prior year. Excluding the impact of Uterine Health, which was sold in February 2010 results in constant currency growth of 9.1%
 
    GAAP net income of $20.6 million grows 22% over prior year
MINNEAPOLIS, August 3, 2010 — American Medical Systems Holdings, Inc. (NASDAQ: AMMD) reported sales of $136.4 million for the second quarter of 2010, a 7.9 percent increase over sales of $126.4 million in the comparable quarter of 2009. Adjusting for the negative impact of $1.4 million due to fluctuations in foreign exchange rates since the time the second quarter guidance was issued; revenue would have achieved the upper end of the guidance range. Conversely, compared to the prior year, foreign exchange had a minimal favorable impact, resulting in second quarter constant currency growth of 7.6 percent. Further adjusting revenue for the impact of the Her Option® product line, which was sold during the first quarter of 2010, results in constant currency growth of 9.1 percent.
The Company reported strong second quarter net income of $20.6 million, a 22.0 percent increase over net income of $16.9 million in the same quarter last year. The resulting second quarter earnings per share of $0.26 compares to $0.23 in the same quarter last year, and non-GAAP adjusted earnings per share of $0.31 compares to $0.29 in the same period last year, finishing at the top of our guidance. 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. A reconciliation of reported net income to non-GAAP adjusted net income is provided in the attached schedules.
Men’s Health sales of $61.4 million in the second quarter, represented an increase of 7.7 percent on a reported basis compared to the same quarter last year, and grew 7.5 percent on a constant currency basis, with the erectile restoration and male continence product lines contributing equally to the growth. The BPH therapy business increased 3.9 percent on a reported basis, and grew 3.7 percent on a constant currency basis, to $29.2 million during the quarter. Late in the second quarter, the Company launched the new GreenLight XPS Laser Therapy System, and received 510(k) clearance for the revolutionary MoXy Liquid Cooled Fiber, our newest system for the treatment of BPH. The Women’s Health business, excluding the Her Option® product line that was sold in the first quarter, increased 15.7 percent on a reported basis and 15.3 percent on a constant currency basis to $44.5 million in the second quarter. Pelvic floor repair has continued its strong performance, driven by the success of both Elevate® anterior and Elevate® posterior. The female continence product line recorded improving growth rates in the second quarter, approaching mid single digits. Revenue from uterine health of $1.3 million pertains to the product supply agreement with CooperSurgical, Inc., as part of the product line divestiture agreement.
“We had solid second quarter revenue performance and are very excited about the market opportunities related to the launch of the new GreenLight XPS system and the anticipated launch of the MoXy Liquid

 


The following information was filed by American Medical Systems Holdings Inc on Tuesday, August 3, 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.

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