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Valeant Pharmaceuticals Reports Fourth Quarter and Full Year Financial Results
Date:2/24/2009

d amortization expense in the three and twelve months ended December 31, 2008 and December 31, 2007 of $215.7 million and $257.6 million and $23.0 million and $83.7 million, respectively. To supplement the financial measures prepared in accordance with generally accepted accounting principles (GAAP), the company uses non-GAAP financial measures that exclude certain items, such as acquired in-process research and development, restructuring, asset impairments and dispositions, amortization expense and the tax effect of such charges. Management uses non-GAAP financial measures internally for strategic decision making, forecasting future results and evaluating current performance. By disclosing non-GAAP financial measures, management intends to provide investors with a more meaningful, consistent comparison of the company's core operating results and trends for the periods presented. Non-GAAP financial measures are not prepared in accordance with GAAP; therefore, the information is not necessarily comparable to other companies and should be considered as a supplement to, not a substitute for, or superior to, the corresponding measures calculated in accordance with GAAP. Note: Currency effect is determined by comparing adjusted 2008 reported amounts, calculated using 2007 monthly average exchange rates, to the actual 2007 reported amounts. Constant currency sales is not a GAAP- defined measure of revenue growth. Constant currency sales as defined and presented by us may not be comparable to similar measures reported by other companies. Valeant Pharmaceuticals International Table 5 Consolidated Balance Sheet and Other Data (In thousands) As of As of December 31, December 31, Balanc
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