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Angiotech Pharmaceuticals, Inc. announces financial results for the second quarter ended June 30, 2009
Date:8/6/2009

e 30, of U.S.$) 2009 2008 2009 2008 -------------------- --------------------------- ------------------------ Net (loss) income on a GAAP basis $ (11,877) (26,071) $ 567 $ (41,834) Interest expense on long-term debt 9,641 10,941 19,685 23,061 Income tax (recovery) expense (217) (1,988) 5,507 (5,802) Depreciation and amortization 9,207 9,723 18,368 19,172 -------------------- --------------------------- ------------------------ EBITDA 6,754 (7,395) 44,127 (5,403) Adjustments: Non-recurring revenue, net of license fees (398) (53) (25,451) (106) Abnormal manufacturing variances and inventory write-downs 896 - 896 - In-process research and development - - - 2,500 Non-recurring research and development 625 - 938 625 Stock-based compensation 423 607 807 1,425 Litigation expenses 1,494 691 2,241 2,289 Foreign exchange loss (gain) 1,441 (140) 709 (563) Investment and other income 600 (686) 615 (1,442) Severance and restructuring 332 1,762 1,266 4,840 Write off of capitalized costs - 500 - 500 Write-down / loss on redemption of investments - 10,660 - 10,660 Non-recurring financing costs 413 - 1,032 - --
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SOURCE Angiotech Pharmaceuticals, Inc.
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