The differences between U.S. GAAP EPS, net loss, research and development expense and general and administrative expense and the corresponding non-GAAP amounts are itemized in table 2 and 3, and are primarily due to:
-- Pre-tax share-based compensation expense under SFAS No. 123R of $1.1
million (or $0.05 per share) for the three months ended September 30,
2007, primarily related to employee stock option expense.
-- Pre-tax charges for preferred stock accretion.
-- Pre-tax charges for changes in the fair value of warrant liability.
Use of Non-GAAP Financial Measures
Our "non-GAAP net loss" and "non-GAAP diluted net loss per common share" financial measures are defined as reported, or GAAP, net loss and diluted net loss per common share excluding, for the reasons discussed below,
(1) Stock option expense and the cumulative effect of an accounting
change relating to the initial adoption of SFAS No. 123R and (2)
other items. Our management uses these non-GAAP financial measures to
establish financial goals and to gain an understanding of the
comparative financial performance of the Company from year to year
and quarter to quarter. Accordingly, we believe investors'
understanding of the Company's financial performance is enhanced as a
result of our disclosing these non-GAAP financial measures. Non-GAAP
net loss and diluted net loss per common share should not be viewed
in isolation or as a substitute for reported, or GAAP net loss and
diluted net loss per common share.
(2) Stock option expense - Non-GAAP net loss and diluted net loss per
common share exclude the impact of our stock op
|SOURCE Amicus Therapeutics|
Copyright©2007 PR Newswire.
All rights reserved