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QLT announces first quarter results for 2008
Date:4/25/2008

74.6 74.6

Diluted 74.6 74.6

Adjustments:

------------

(a) Remove accrued cost of sales re: MEEI and related interest

expense.

(b) Remove stock based compensation.

(c) Remove restructuring charge.

(d) Remove income tax impact of the above adjustments.

(1) The adjusted non-GAAP financial measures have no standardized

meaning under GAAP and are not comparable between companies. Management

believes that the adjusted non-GAAP financial measures are useful for

the purpose of financial analysis. Management uses these measures

internally to evaluate the Company's operating performance before items

that are considered by management to be outside of the Company's core

operating results.

QLT Plug Delivery, Inc. is a wholly-owned subsidiary of QLT Inc.

Atrigel is a registered trademark of QLT USA, Inc.

Visudyne is a registered trademark of Novartis AG.

Eligard is a registered trademark of Sanofi-aventis.

QLT Inc. is listed on The NASDAQ Stock Market under the trading symbol "QLTI" and on The Toronto Stock Exchange under the trading symbol "QLT."

A full explanation of how QLT determines and recognizes revenue resulting from Visudyne sales is contained in the financial statements contained in the periodic reports on Forms 10-Q and 10-K, under the heading "Significant Accounting Policies - Revenue Recognition." Visudyne sales are product sales by Novartis under its agreement with QLT.

Certain statements in this press release constitute "forward-looking statements" of QLT within the meaning of the Private Securities Litigation Reform Act of 1995 and constitute "forward-looking information" within the meaning of applicable Canadian securities laws. Forward-looking statements include, but are not limited
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SOURCE QLT Inc.
Copyright©2008 PR Newswire.
All rights reserved

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