Woman's health company reports increased third quarter revenues.

2003 DEC 4 - (NewsRx.com & NewsRx.net) -- Inverness Medical Innovations, Inc., (IMA), a provider of women's health and nutritional products and a developer of advanced medical devices, announced its financial results for the 3- and 9-month periods ending September 30, 2003.

For the 3 months ended September 30, 2003, Inverness Medical Innovations reported net income under generally accepted accounting principles (GAAP) of $1.7 million, compared to net income of $1.1 million in the third quarter of 2002. Net income available to common stockholders was $1.5 million, or $0.08 per diluted share, in the third quarter of 2003 compared to a net loss available to common stockholders of $6.7 million, or $0.65 per diluted share, for the third quarter of 2002.

Excluding nonrecurring and certain noncash charges and income, the company reported income of $2.1 million, or $0.12 per diluted share, in the third quarter of 2003 compared to income, excluding nonrecurring and certain noncash charges and income, of $1.4 million, or $0.12 per diluted share, for the third quarter of 2002.

In the third quarter of 2003, the company had net revenues of $72.4 million, a 34% increase over the net revenues of $53.9 million in the third quarter of 2002. The majority of the revenue increase was due to the revenues contributed by Wampole Laboratories, the professional diagnostic products unit acquired on September 20, 2002, Applied Biotech, Inc., which was acquired on August 27, 2003, the company's Clearblue Easy Digital pregnancy test launched in June of 2003, and increased license fees primarily as a result of the company's agreement with Pfizer.

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