BELLUS Health Reports Results for Third Quarter of Fiscal 2008 and on E... (costsare no longer reimbursable by Cento...)

BELLUS Health Reports Results for Third Quarter of Fiscal 2008 and on EMEA Update

Date:11/10/2008

costs are no longer reimbursable by Centocor.

Stock-based compensation amounted to $439,000 for the current quarter ($2,298,000 for the nine-month period), compared to $998,000 for the corresponding quarter the previous year ($2,854,000 for the nine-month period). This expense relates to stock options and stock-based incentives, whereby compensation cost in relation to stock options is measured at fair value at the date of grant and is expensed over the award's vesting period. The decrease is mainly due to cancellation of stock options as well as adjustments in relation to forfeitures of stock options during the current quarter.

Interest income amounted to $145,000 for the current quarter ($856,000 for the nine-month period), compared to $1,021,000 for the same quarter the previous year ($2,585,000 for the nine-month period). The decrease is mainly attributable to lower average cash balances and lower interest rates during the current periods, compared to the same periods in the previous year.

Accretion expense amounted to $1,243,000 for the current quarter ($3,675,000 for the nine-month period), compared to $1,452,000 for the same quarter the previous year ($14,568,000 for the nine-month period). Accretion expense represents the imputed interest under GAAP on the $42,085,000 aggregate principal amount of 6% convertible senior notes issued in November 2006 (2006 Notes), as well as on the $40,000,000 6% senior convertible notes (Senior Notes) and $40,000,000 5% senior subordinated convertible notes (Junior Notes) issued in May 2007. The Company accretes the carrying values of the convertible notes to their face value through a charge to earnings over their expected life of 60 months, 54 months and 1 month, respectively. The decrease in the current nine-month period, compared to the same period the previous year is mainly due to accretion expenses of $10,430,000 recorded during the second quarter of 2007 on the Junior Notes, which were fully conv
'/>"/>

0

GOOD

Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
Related medicine news :

1. BELLUS Health to present at the Rodman and Renshaw 10th Annual Healthcare Conference
2. BELLUS Health provides update on activities
3. BELLUS Health announces closing of Innodia acquisition
4. BELLUS Health to present at the Rodman and Renshaw 5th Annual Global Healthcare Conference
5. BELLUS HEALTH reports results for first quarter of fiscal 2008
6. At Annual and Special Meeting of Shareholders - Neurochem to officially adopt new name - BELLUS Health - And to provide update on programs including first new natural health product, VIVIMIND(TM)
7. Healthcare Realty Trust Announces Third Quarter Results
8. World Publics See Government as Responsible for Ensuring Basic Healthcare, Food, and Education Needs
9. MAP Pharmaceuticals to Present at the Lazard Capital Markets 5th Annual Healthcare Conference
10. Major Mental Health Associations Join to Support Give an Hour
11. Wyeth to Present at the Credit Suisse Healthcare Conference

Post Your Comments:

BELLUS Health Reports Results for Third Quarter of Fiscal 2008 and on E...(costsare no longer reimbursable by Cento...),Health