EXHIBIT 99.1 |
HealthTronics, Inc. Increases Endocare Guidance |
AUSTIN, Texas, January 6, 2010 (GLOBE NEWSWIRE) -- HealthTronics, Inc. (Nasdaq:HTRN), a leading provider of urology services and products, today announced that it has updated its financial guidance with respect to the impact of the acquisition of Endocare. Prior guidance was a positive EBITDA contribution of $1.0 to $1.5 million in the fourth quarter of 2009 and an annualized EBITDA contribution of $6.0 to $7.0 million by the end of the first quarter of 2010, each excluding one-time charges. The updated guidance is as follows: |
• | Positive EBITDA contribution from Endocare of approximately $2.75 to $3.25 million in the fourth quarter of 2009, excluding one-time transaction related expense comparable to that incurred in the third quarter. | |
• | Positive EBITDA contribution from Endocare of $11 to $13 million in 2010, with the large majority of transaction related expenses having been incurred in 2009. |
James Whittenburg, President and Chief Executive Officer of HealthTronics, commented “We are very pleased with the performance of the Endocare acquisition to date. Our Endocare technology has benefited from HealthTronics’ broad platform and strong financial standing. Physicians globally have reacted positively to our continued commitment to the cryotherapy market. Furthermore, the faster-than-anticipated integration of the two companies and additional cost savings equip us to more aggressively pursue opportunities related to this remarkable technology.” |
EBITDA: HealthTronics has presented EBITDA amounts, which are non-GAAP financial measures. In this press release, HealthTronics has reconciled such amounts to their most directly comparable financial measure calculated in accordance with GAAP, which is net income (loss) from continuing operations. HealthTronics believes that its presentations of EBITDA are useful supplemental measures of operating performance to its investors. |
HealthTronics, Inc. and Subsidiaries |
(In thousands) | ||||||||
---|---|---|---|---|---|---|---|---|
EBITDA - Endocare Guidance Mid-Point of Range | ||||||||
Three Months Ended December 31, 2009 | Year Ended December 31, 2010 | |||||||
Income (loss) from continuing operations - Endocare | $ | (500 | ) | $ | 9,000 | |||
Add Back (deduct): | ||||||||
Depreciation and amortization - Endocare | 500 | 2,000 | ||||||
Restructuring costs - Endocare | 3,000 | 1,000 | ||||||
EBITDA - Endocare | $ | 3,000 | $ | 12,000 |