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Verenium Reports Financial Results for the Third Quarter 2010
Date:11/9/2010

2009Revenues:   Product

$
2,233$
,026$
37,085$
32,094   Collaborative  

3399031,3913,369Total revenue

12,57211,92938,47635,463Operating expenses:   Cost of product revenue

7,8337,27823,17920,483Product Gross Profit

4,4003,74813,90611,611Product Gross Margin

36%34%37%36%   Research and development

1,4481,6504,1244,808   Selling, general and administrative

7,8389,02421,01024,594Total operating expenses

17,11917,95248,31349,885Operating loss from continuing operations

(4,547)(6,023)(9,837)(14,422)Other Income and Expense:   Interest and other expense, net

(2,072)(2,567)(6,179)(8,980)   Gain (loss) on debt extinguishment

(3,384)2,511(2,786)8,629   Gain on amendment of 2008 Notes

--3,977--3,977   Gain (loss) on net change in fair value of derivativeassets and liabilities

(299)1,712(1,017)5,078Total other income (expense), net

(5,755)5,633(9,982)8,704Loss from continuing operations before income taxes

(10,302)(390)(19,819)(5,718)Income tax benefit

7,928--7,928--Net loss from continuing operations

(2,374)(390)(11,891)(5,718)Discontinued Operations:   Net income (loss) from discontinued operations,net of income taxes

31,980(10,607)9,841(38,715)Less: Loss attributed to noncontrolling interests in   consolidated entities – discontinued operations

10,1088,70525,28325,500Net income (loss) attributed to Verenium

$
39,714$
(2,292)$
23,233$
(18,933)Basic and diluted net income (loss) per share:Continuing Operations

$
(0.19)$
(0.04)$
(0.97)$
(0.77)Discontinued Operations

$
2.59$
(1.18)$
.80$
(5.19)Net income (loss) attributed to Verenium

$
3.21$
(0.25)$
.90$
(2.54)Shares used in computing basic and diluted net income  (loss) per share

12,3719,01412,2317,466Verenium Corp
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SOURCE Verenium Corporation
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