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Angiotech Pharmaceuticals, Inc. announces financial results for the first quarter ended March 31, 2009
Date:4/30/2009

$ (4,552) -------------------------------- d. Amortization of acquisition related intangible assets and medical technologies. e. Non-recurring in-process research and development expense relating to payments made to licensors and collaborators. f. Foreign exchange fluctuations on foreign currency net monetary assets. g. Realized loss on write-down of assets. h. Amortization of deferred financing costs. i. Tax effects of adjustments a. through h. for the period. ANGIOTECH PHARMACEUTICALS, INC. CALCULATION OF ADJUSTED EBITDA (unaudited) Three months ended March 31, (in thousands of U.S.$) 2009 2008 -------------------------------------------- ---------------------------- Net loss on a GAAP basis $ 12,444 (15,763) Interest expense on long-term debt 10,044 12,120 Income tax expense (recovery) 5,724 (3,814) Depreciation and amortization 9,161 9,448 -------------------------------------------- ---------------------------- EBITDA 37,373 1,991 Adjustments: Non-recurring revenue, net of license fees (25,053) (53) In-process research and development - 2,500 Non-recurring research and development 313 625 Stock-based compensation 384 817 Litigation expenses 747 1,598 Foreign exchange loss (gain) (732) (423) Investment and other income 15 (
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