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Exhibit 99.1
Contact:
|
Doug Guarino | Director of Corporate Relations | 781-647-3900 | |||
| Jon Russell | Vice President of Finance |
ALERE INC. ANNOUNCES
FOURTH QUARTER 2010 RESULTS
WALTHAM, MA...February 17, 2011...Alere Inc. (NYSE: ALR), a global leader in enabling
individuals to take charge of their health at home through the merger of rapid diagnostics and
health management, today announced its financial results for the quarter ended December 31,
2010.
Financial results for the fourth quarter of 2010:
| • | Net revenue of $578.5 million for the fourth quarter of 2010, compared to $546.2 million for the fourth quarter of 2009. | ||
| • | Product and services revenues from our Professional Diagnostics segment were $401.4 million in the fourth quarter of 2010 compared to $362.0 million in the fourth quarter of 2009. Recent professional diagnostics acquisitions contributed $43.8 million of incremental net revenue compared to the fourth quarter of 2009. | ||
| • | North American influenza sales decreased to $8.9 million for the fourth quarter of 2010, compared to $39.7 million for the fourth quarter of 2009. | ||
| • | Excluding the impact of the change in North American influenza revenues, currency adjusted organic growth in our Professional Diagnostics segment was 8.8%. This growth rate benefited from the termination of a distribution relationship for certain of our cardiology products in the fourth quarter of 2009, which reduced 2009 revenues by approximately $7.0 million. Further, excluding this impact, the adjusted organic growth rate in the Professional Diagnostics segment was 6.5%. | ||
| • | Adjusted gross margins were 55.3% for the quarter compared to 58.3% for the fourth quarter of 2009. Adjusted gross margins from product and services in our Professional Diagnostics segment increased sequentially from 59.9% in the third quarter of 2010 to 60.1% in the fourth quarter. Adjusted gross margins in our Health Management segment decreased sequentially from 51.8% in the third quarter of 2010 to 47.6% in the fourth quarter. | ||
| • | Adjusted free cash flow for the quarter was $78.4 million, reflecting adjusted cash flow from operations of $106.2 million, offset by capital expenditures of $27.8 million. | ||
| • | GAAP net loss of $1.0 billion attributable to common stockholders of Alere Inc. and respective net loss per common share of $12.24, compared to GAAP net loss of $3.1 million attributable to common stockholders of Alere Inc. and respective net loss per common share of $0.04, for the fourth |
The following information was filed by Alere Inc. (ALR) on Thursday, February 17, 2011 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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10-K Annual Report March 2011
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Alere Inc. provided additional information to their SEC Filing as exhibits
SEC Filing Exhibit
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Ticker: ALR
CIK: 1145460
Form Type: 10-K Annual Report
Accession Number: 0000950123-11-020527
Submitted to the SEC: Tue Mar 01 2011 3:12:10 PM EST
Accepted by the SEC: Tue Mar 01 2011
Period: Friday, December 31, 2010
Industry: In Vitro And In Vivo Diagnostic Substances
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