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Martek Announces Third Quarter 2008 Financial Results
Date:9/4/2008

11,269

Total revenues 88,403 77,846 262,010 224,793

Cost of revenues:

Cost of product sales 47,334 44,217 143,010 133,003

Cost of contract

manufacturing sales 4,374 3,681 10,826 11,296

Total cost of

revenues 51,708 47,898 153,836 144,299

Gross margin 36,695 29,948 108,174 80,494

Operating expenses:

Research and development 6,278 6,576 19,078 18,551

Selling, general and

administrative 13,554 11,563 40,769 32,683

Amortization of

intangible assets 1,919 1,602 5,475 4,521

Restructuring charge - 146 - 747

Other operating expenses 341 156 590 1,252

Total operating

expenses 22,092 20,043 65,912 57,754

Income from operations 14,603 9,905 42,262 22,740

Interest income (expense)

and other, net 337 (288) 863 (1,162)

Income before income

tax provision 14,940 9,617 43,125 21,578

Income tax provision 5,608 3,491 15,922 7,833

Net income $9,332 $6,126 $27,203 $13,745

Basic earnings per share $0.28 $0.19 $0.83 $0.43

Diluted earnings per

share $0.28 $0.19 $0.82 $0.42

Shares used in computing

basic earnings per

share 33,016 32,273 32,892 32,231

Shares used in computing

diluted earnings per

share 33,408 32,519 33,235 32,463

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SOURCE Martek Biosciences Corporation
Copyright©2008 PR Newswire.
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