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Angiotech Pharmaceuticals, Inc. announces financial results for the fourth quarter ended December 31, 2008
Date:3/5/2009

l of tax reserves previously booked. ANGIOTECH PHARMACEUTICALS, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (in thousands of U.S.$, except Year ended share and per share data) December 31, 2008 ------------------------------------------------------------------------- Reported Adjustments Adjusted REVENUE Royalty revenue $ 91,546 $ - $ 91,546 Product sales, net 190,816 - 190,816 License fees 910 (910) b - ------------------------------------------------------------------------- 283,272 (910) 282,362 ------------------------------------------------------------------------- EXPENSES License and royalty fees 14,258 - 14,258 Cost of products sold 101,052 (122) c 100,930 Research and development 53,192 (5,535) d 47,657 Selling, general and administrative 98,483 (11,959) e 86,524 Depreciation and amortization 33,998 (30,219) f 3,779 In-process research and development 2,500 (2,500) g - ------------------------------------------------------------------------- 303,483 (50,335) 253,148 ------------------------------------------------------------------------- Operating (loss) income (20,211) 49,425 29,214 ------------------------------------------------------------------------- Other income (expenses): Foreign exchange gain (loss) 540 (540) h - Investment and other i
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SOURCE Angiotech Pharmaceuticals, Inc.
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