share, both of which exclude the impact of employee stock-based
compensation expense. The foregoing table reconciles these non-GAAP
measures to the most comparable financial measures calculated in
accordance with GAAP.
Our management uses these non-GAAP financial measures to monitor and
evaluate our operating results and trends on an on-going basis and
internally for operating, budgeting and financial planning purposes. Our
management excludes the effects of employee stock-based compensation
because of varying available valuation methodologies, subjective
assumptions and the variety of award types; such exclusion facilitates
comparisons of our operating results to our peer companies. Our management
believes the non-GAAP information is useful for investors by offering them
the ability to better identify trends in our business and better
understand how management evaluates our business.
These non-GAAP measures have limitations, however, because they do not
include all items of income and expense that affect Onyx. The non-GAAP
financial measures we use are not prepared in accordance with, and should
not be considered in isolation of, or as an alternative to, measurements
required by GAAP.
|SOURCE Onyx Pharmaceuticals, Inc.|
Copyright©2008 PR Newswire.
All rights reserved