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Angiotech announces preliminary third quarter financial results and updates fiscal 2007 outlook
Date:10/19/2007

operations, adjusted net income per share from continuing operations, and Adjusted EBITDA do not have any standardized meaning prescribed by GAAP and therefore may not be comparable to similar measures presented by other issuers. Management uses certain non-GAAP or adjusted operating measures to establish operational goals and assess corporate performance, and believes that these measures may assist investors in analyzing the underlying trends in our business over time. Investors should consider this non-GAAP measure in addition to, not as a substitute for, or as superior to, financial reporting measures prepared in accordance with GAAP.

The financial outlook in this press release presents certain forward-looking, non-GAAP financial information for which at this time there is no calculable comparable GAAP measure or which at this time cannot be quantitatively reconciled to GAAP financial information. Specifically, reconciliation of our EBITDA and Adjusted EBITDA outlook to GAAP-based financial information is not feasible at this time, as it would require the estimation of certain expenses that are inherently unpredictable or subject to significant fluctuation for reasons unrelated to our underlying business performance, including stock-based compensation expenses, litigation expenses and foreign exchange gains or losses.

Note on Forward Looking Statements

Statements contained in this press release that are not based on historical fact, including without limitation statements containing the words "believes," "may," "plans," "will," "estimate," "continue," "anticipates," "intends," "expects" and similar expressions, constitute "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and constitute "forward-looking information" within the meaning of applicable Canadian securities laws. All such statements are made pursuant to the "safe harbor" provisions of applicable securities legislation. Forward
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SOURCE Angiotech Pharmaceuticals, Inc.
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