Diluted 74.6 74.6
(a) Remove accrued cost of sales re: MEEI and related interest
(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
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
|SOURCE QLT Inc.|
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