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United Therapeutics Corporation Reports 2010 Fourth Quarter and Annual Financial Results
Date:2/15/2011

tion, future events or any other reason.

Remodulin and Tyvaso are registered trademarks of United Therapeutics Corporation.

Adcirca is a registered trademark of Eli Lilly and Company.

UNITED THERAPEUTICS CORPORATIONCONSOLIDATED STATEMENTS OF OPERATIONS(In thousands, except per share data)Three Months Ended December 31,Year Ended December 31,2010200920102009Revenues:Net product sales

$

163,445$

105,945$

591,881$

357,870Service sales

2,7382,69710,75310,751License fees

2942811,1971,227Total revenues

166,477108,923603,831369,848Operating expenses:Research and development

62,25541,032166,761122,188Selling, general and administrative

74,99856,577199,600176,338Cost of product sales

18,53612,23367,71640,890Cost of service sales

1,6371,2635,7494,431Total operating expenses

157,426111,105439,826343,847(Loss) income from operations

9,051(2,182)164,00526,001Other income (expense):Interest income

6291,0052,9395,146Interest expense

(5,459)(3,659)(19,714)(12,875)Equity loss in affiliate

(30)(42)(160)(141)Other, net

314145769636Total other (expense) income, net

(4,546)(2,551)(16,166)(7,234) Income (loss) before income tax

4,505(4,733)147,83918,767Income tax benefit (expense)

5,0391,403(41,923)695Net income (loss)

$

9,544$

(3,330)$

105,916$

19,462Net income (loss) per common share:Basic

$

0.17$

(0.06)$

1.89$

0.37Diluted

$

0.15$

(0.06)$

1.78$

0.35Weighted average number of common shares outstanding:Basic

57,18753,92656,14253,314Diluted

61,71553,92659,51656,133SELECTED CONSOLIDATED BALANCE SHEET DATA(In thousands)December 31,20102009Cash, cash equivalents and marketable securities (excluding restricted amounts of $5,122 and $39,976, respectively)

$

759,932$

378,120Tota
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SOURCE United Therapeutics Corporation
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