Use of Non-GAAP Financial Measures
Amicus' "non-GAAP net loss" and "non-GAAP diluted net loss per common
share" financial measures are defined as reported, or GAAP, net loss and
diluted net loss per common share excluding certain items further discussed
below. Amicus' management uses these non-GAAP financial measures to
establish financial goals and to gain an understanding of the comparative
financial performance of Amicus from year to year and quarter to quarter.
Accordingly, Amicus believes investors' understanding of Amicus' financial
performance is enhanced as a result of disclosing these non-GAAP financial
measures. Non-GAAP net loss and diluted net loss per common share should
not be viewed in isolation or as a substitute for reported, or GAAP net
loss and diluted net loss per common share.
(1) Stock option expense -- Non-GAAP net loss and diluted net loss per
common share exclude the impact of the stock option expense recorded
in accordance with SFAS No. 123R. Amicus believes that excluding the
impact of expensing stock options better reflects the recurring
economic characteristics of its business.
(2) Other items -- Non-GAAP net loss and diluted net loss per common
share exclude other unusual or non-recurring items that are evaluated
on an individual basis. Amicus' evaluation of whether to exclude an
item for purposes of determining its non-GAAP financial measures
considers both the quantitative and qualitative aspects of the item,
including, among other things (i) its size and nature, (ii) whether
or not it relates to its ongoing business operations, and (iii)
whether or not Amicus expects it to occur as part of its normal
business on a regular basis. Items excluded for purposes of
determining non-GAAP net loss and
|SOURCE Amicus Therapeutics|
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