American Medical Systems (AMS) Holdings has reported an increase in revenue for the fourth quarter of fiscal 2007.
For the quarter, the Minnetonka, Minn.-based company posted preliminary sales of $130.0 million, a 12.7 percent increase over sales of $115.4 million in the comparable quarter of 2006. The company said this figure was at the upper end of its guidance of $124 million to $130 million.
In addition, AMS disclosed it was to pay $13.8 million, after an arbitration decision regarding shareholders of CryoGen. The dispute concerned an earnout payment related to its 2002 acquisition of CryoGen, which alleged that American Medical breached the merger agreement. The company said the award will be reflected in fourth-quarter results, and was not included in the fourth-quarter earnings per share projected guidance.