BioMarin Announces Fourth Quarter and Full Year 2008 Financi...( NOVATO Calif. Feb. 18 /- ...)

    NOVATO, Calif., Feb. 18 /PRNewswire-FirstCall/ --

    Financial Highlights ($ in millions, except per share data)

    Item                         FY 2008           FY 2007 Comparison
    Total BioMarin Revenue        $296.5            143.9% increase
    Naglazyme Net Product
     Revenue                      $132.7            53.9% increase
    Aldurazyme Net Sales by
     Genzyme                      $151.3            22.3% increase
    Aldurazyme BioMarin Net
     Product Revenue              $72.5             NA
    Kuvan Net Product Revenue     $46.7             $0.4
    GAAP Net Income (Loss)        $30.8             ($15.8)
    GAAP Net Income (Loss)
     per share                    $0.31 (basic),   ($0.16) (basic and diluted)
                                  $0.29 (diluted)
    Non-GAAP Net Income (Loss)    $56.1             $2.5
    Non-GAAP Net Income (Loss)
     per share                    $0.57 (basic),    $0.03 (basic and diluted)
                                  $0.52 (diluted)

BioMarin Pharmaceutical Inc. (Nasdaq: BMRN) today announced financial results for the fourth quarter and year ended December 31, 2008. Net income was $24.5 million ($0.21 per fully diluted share) for the fourth quarter of 2008, compared to net income of $2.6 million ($0.03 per fully diluted share) for the fourth quarter of 2007. Non-GAAP net income was $31.9 million ($0.27 per fully diluted share) for the fourth quarter of 2008, compared to non-GAAP net income of $8.1 million ($0.08 per fully diluted share) for the fourth quarter of 2007. Non-GAAP net income/loss excludes non-cash stock compensation expense, which was $7.4 million for the three months ended December 31, 2008 and $5.5 million for the three months ended December 31, 2007.

Net income for the year ended December 31, 2008 was $30.8 mill
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