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Angiotech announces results for the fourth quarter ended December 31, 2007
Date:2/14/2008

rough n. for the period, including

the reversal of tax reserves previously booked. Comparative for 2006

also includes non-recurring retroactive tax adjustment of

$8.7 million relating to certain tax structures previously

established in the province of Quebec, from which the previously

expected benefits are not anticipated to be realized.

ANGIOTECH PHARMACEUTICALS, INC.

CALCULATION OF ADJUSTED EBITDA

(Unaudited)

Three months ended Year ended

December 31, December 31,

(in thousands of U.S.$) 2007 2006 2007 2006

-------------------------------------------------------------------------

Net income on a GAAP basis (21,276) (11,703) (59,357) 4,585

Interest expense on long-term debt 12,774 11,891 51,748 35,502

Income tax expense 2,173 (5,619) (23,713) 6,247

Depreciation and amortization 9,902 15,956 37,907 40,348

-------------------------------------------------------------------------

EBITDA 3,573 10,525 6,585 86,682

-------------------------------------------------------------------------

Adjustments:

Net loss from discontinued

operations, excluding

depreciation, amortization and

income tax expense included

above - 9,242 11,122 10,497

In-process research and

development 125 - 8,125 1,042

Non-recurring research and

development costs - - 750 -

Non-recurring revenue, net of

license fees (266) (10,052) (426
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SOURCE Angiotech Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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