American Medical (AMMD) Reports Q4 Sales; Raises Q4, FY09 EPS Guidance

In anticipation of presenting at the JP Morgan Healthcare Conference on January 12, 2010, American Medical Systems Holdings, Inc. (NASDAQ: AMMD) reported today preliminary sales of $146.0 million for the fourth quarter of 2009, a 9.0 percent increase over sales of $134.0 million in the comparable quarter of 2008. The weakening of the U.S. dollar compared to the fourth quarter of 2008 positively affected revenue comparisons for the quarter by $3.9 million. Adjusting for the positive impact of the weaker U.S. dollar results in fourth quarter growth of 6.1 percent over the same period last year. The preliminary fourth quarter revenue of $146.0 million exceeds the Company’s guidance issued on November 4, 2009, of $136 to $142 million.

Preliminary sales for the year 2009 were reported at $519.3 million, a 3.5 percent increase over sales of $501.6 million for the year 2008. The strengthening of the U.S. dollar for the full year 2009 compared to 2008 negatively affected revenue comparisons between years by $8.2 million. Adjusting for the negative impact of foreign currency fluctuations results in 2009 revenue growth over 2008 of 5.2 percent.

“We are pleased with the solid sales performance across all of our businesses in the fourth quarter,” noted Tony Bihl, Chief Executive Officer. “The successful launch of the Elevate® anterior product in mid 2009 contributed nicely to stronger performance in the back half of the year. We achieved accelerating growth in our BPH therapy product line each sequential quarter throughout 2009, and the erectile restoration product line remained consistently strong throughout all of 2009.”

Reflecting the strong Q4 revenue performance, the Company revised Q4 adj-EPS guidance from $0.29-$0.33 to $0.32-$0.35, which compares to the Street estimate of $0.33. For FY09, adj-EPS move from $1.10-$1.14 to $1.12-$1.15, versus the consensus of $1.14.

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