Advertisement
News
Advertisement

Alere charge leads to $1B Q4 loss

Fri, 02/18/2011 - 5:37am
Mass High Tech: The Journal of New England Technology

Alere Inc., the Waltham-based maker of consumer-focused health technologies formerly known as Inverness Medical Innovations Inc., reported it took a $1 billion hit in the fourth quarter of 2010 related to its Health Management business segment.

In the documents filed with the U.S. Securities and Exchange Commission, Alere noted, however, that its Q4 revenue had climbed to $578.5 million from Q4 2009 numbers of $546.2 million. That was offset by the $1 billion loss that came as a result of a non-cash charge which company officials said was related to “impairment of goodwill in our Health Management segment.”

SOURCE

Advertisement

Share this Story

X
You may login with either your assigned username or your e-mail address.
The password field is case sensitive.
Loading