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Angiotech Pharmaceuticals, Inc. announces financial results for the fourth quarter ended December 31, 2009
Date:3/3/2010

U.S.$) 2009 2008 2009 2008 ------------------------------------------------------------------------- GAAP net loss $ (15,633) $ (76,963) $ (22,868) $ (741,176) Interest expense on long-term debt 9,068 10,639 38,039 44,490 Income tax expense (recovery) (1,532) (2,577) 6,037 (12,892) Depreciation and Amortization 9,460 9,327 37,026 38,174 ------------------------------------------------------------------------- EBITDA 1,363 (59,574) 58,234 (671,404) Adjustments: Non-recurring revenue, net of license fees(a) (53) (352) (25,556) (910) Restructuring related charges(b) (309) 1,583 3,820 10,407 In-process and non-recurring research and development charges(c) 500 313 1,866 3,438 Non-recurring supply/distribution agreement termination costs(b) - - - 500 Stock-based compensation(d) 408 458 1,579 2,439 Litigation expenses(g) 684 177 3,297 2,670 Foreign exchange loss (gain)(h) 385 1,032 1,612 (540) Investment and other income 196 498 122 (1,255) Write-downs of investments and other long-lived assets(i) 3,090 12,247 3,090 24,870 Write-down of goodwill(i) - 50,285 - 649,685 Write-downs and other non-recurring deferred financing costs(f) - 3,665 643 17,209 Non-recurring char
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SOURCE Angiotech Pharmaceuticals, Inc.
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