EXHIBIT 99.1
DATE: February 15, 2007
FOR IMMEDIATE RELEASE
AMERICAN MEDICAL SYSTEMS’ TOTAL REVENUE INCREASES 58 PERCENT
TO $115.4 MILLION; CORE REVENUE INCREASES 18 PERCENT
Strong Financial Performance Driven by Balanced Growth
MINNEAPOLIS, February 15, 2007 — American Medical Systems Holdings, Inc. (NASDAQ: AMMD) reported revenues of $115.4 million for the fourth quarter of 2006, a 58 percent increase over revenues of $73.1 million in the comparable quarter of 2005. The fourth quarter of 2006 included $29.1 million of revenue from the Laserscope business and was the first full quarter of Laserscope financial results since the July 2006 acquisition was completed. Excluding Laserscope revenues, AMS revenue for the fourth quarter of 2006 was $86.3 million, which represents 18 percent growth over the same quarter of 2005. As noted in the Company’s January 5, 2007 press release announcing preliminary sales, this growth represents strong and balanced contributions from both men’s and women’s health. Fourth quarter growth over the prior period was impacted by $0.9 million of favorable foreign exchange rates.
Revenues for 2006 totaled $358.3 million, including $47.6 million of revenue from the Laserscope business. Excluding Laserscope revenue, AMS revenue for 2006 was $310.8 million, an 18 percent increase from 2005 revenue of $262.6 million.
Martin J. Emerson, President and Chief Executive Officer, commented, “We are very pleased with the financial results of the fourth quarter of 2006, which exceeded the top end of both our revenue and earnings expectations. Our fourth quarter performance capped off a very successful year which included the completion of three significant acquisitions. These acquisitions, combined with our internal development programs, have provided us with the most robust product technology platform at any time in our history. We have made significant strides in our integration of these businesses and enter 2007 with strong financial and new product momentum.”
The Company reported net income for the fourth quarter of 2006 of $5.9 million, or $0.08 per share. This compares to net income for the same period last year of $14.6 million, or $0.20 per share. Net income for the fourth quarter of 2006 includes a loss from discontinued operations, the impact of SFAS 123(R) expense, in-process research and development (IPR&D) charges, and certain tax items. Adjusting for these items, net income in the fourth quarter of 2006 would have been $13.0 million, or $0.18 per share. Fourth quarter of 2006 net income also included Laserscope related finance charges and amortization expense of $7.4 million, or $0.10 per share.
The Company reported a net loss for 2006 of $49.3 million, or $0.70 per share, compared to net income of $39.3 million, or $0.55 per share in 2005. Adjusting both periods for the following items: loss from discontinued operations, the impact of SFAS 123(R) expense, IPR&D charges, commitment fees for bridge financing, and certain tax items, results in net income for 2006 of $49.8 million, or $0.69 per share, compared to net income for 2005 of $48.5 million, or $0.68 per share. Full year 2006 net income also included Laserscope related finance charges and amortization expense of $14.7 million, or $0.20 per share.

 


The following information was filed by American Medical Systems Holdings Inc on Thursday, February 15, 2007 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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