American Medical Systems Confirms Fourth Quarter Revenue

American Medical Systems Holdings, Inc. AMMD confirmed previously reported revenue of $147.0 million for the fourth quarter of 2010, a 0.7 percent increase over sales of $146.0 million in the comparable quarter of 2009. Adjusting for the negative impact of the stronger U.S. dollar in the fourth quarter of 2010 results in growth of 1.7 percent over the same quarter last year. Further adjusting revenue for the impact of the Her Option® uterine health product line, which was sold during the first quarter of 2010, results in constant currency revenue growth of 4.0 percent. Full year 2010 revenue of $542.3 million grew 4.4 percent over 2009 revenue of $519.3 million. Adjusting for the impact of foreign currency fluctuations, which was negative $0.1 million, and the impact of the Her Option® uterine health product line divestiture results in 2010 constant currency revenue growth of 5.9% over 2009. Men's Health sales of $65.2 million in the fourth quarter represented an increase of 2.7 percent on a reported basis compared to the same quarter last year, and grew 4.1 percent on a constant currency basis, with growth in the erectile restoration and male continence product lines roughly equal. The BPH Therapy business declined 2.1 percent on a reported basis and 1.0 percent on a constant currency basis to $32.6 million for the quarter. BPH Therapy sales were led by an enthusiastic response to the new GreenLight™ XPS console, offset by a decline in fiber sales due to limited availability of the recently launched MoXy™ Liquid Cooled Fiber and challenging international markets. The Women's Health business increased 6.7 percent on a reported basis and 7.4 percent on a constant currency basis to $48.8 million in the fourth quarter. The female continence product line benefited from the recent introduction of the MiniArc® Precise Single-Incision Sling System for the treatment of female stress urinary incontinence, and the pelvic floor repair product line continued its strong performance driven by the success of both the Elevate® anterior and posterior systems.