January 1, 2002

1 Min Read
On the Money

Originally Published MX January/February 2002

COVER STORY

On the Money

American Medical Systems (AMS; Minneapolis) is a market leader in medical devices for the treatment of incontinence, erectile dysfunction, and prostate disease, and the company's balance sheet reflects as much. For the nine months ended September 29, 2001, AMS's net sales rose 15% to $84.6 million. Net income totaled $4.9 million, versus a loss of $904,000 in the same period in 2000. Results reflect higher sales of incontinence, erectile dysfunction, and prostate disease products; improved gross margins; and a decrease in information technology, legal, and interest expenses.

Revenue split among the major AMS products. Sales from the company’s product pipeline totaled $100.3 million in 2000.

AMS reported net sales of $28.6 million for the third quarter of 2001, a $5.1 million, or 22%, increase over sales of $23.5 million in the same quarter of 2000. Net income in the third quarter of 2001 was $2 million, or $0.06 per share on a fully diluted basis, a $2.3 million increase from the $0.3 million loss in the same quarter of 2000. Third-quarter earnings before interest, taxes, and amortization (EBITA)

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