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BioMarin Announces First Quarter 2011 Financial Results
Date:4/28/2011

NOVATO, Calif., April 28, 2011 /PRNewswire/ --

Financial Highlights ($ in millions, except per share data, unaudited)ItemQ1 2011Q1 2010 ComparisonTotal BioMarin Revenue

$109.5

28.8% increaseTotal Net Product Revenue

$109.1

29.7% increaseNaglazyme Net Product Revenue

$60.6

24.7% increaseAldurazyme BioMarin Net Product Revenue*

$18.7

$14.2Kuvan Net Product Revenue

$26.7

25.9% increaseFirdapse Net Product Revenue

$3.1

$0.1GAAP Net Income (Loss)

$(4.4)

$1.2GAAP Net Income (Loss) per share

$ (0.04) (basic and diluted)

$0.01 (basic and diluted)Non-GAAP Adjusted EBITDA

$17.3

$14.8Non-GAAP Adjusted EBITDA per share

$0.16 (basic), $0.14 (diluted)

$0.15 (basic), $0.14 (diluted)   * Net product transfer revenue had a positive $1.8 million impact on net Aldurazyme revenue to BioMarin in the first quarter of 2011 and a negative $1.7 million impact on net Aldurazyme revenue to BioMarin in the first quarter of 2010.BioMarin Pharmaceutical Inc. (Nasdaq: BMRN) today announced financial results for the first quarter of 2011.  GAAP net loss was $4.4 million ($0.04 per diluted share) for the first quarter of 2011, compared to GAAP net income of $1.2 million ($0.01 per diluted share) for the first quarter of 2010.  Non-GAAP adjusted EBITDA was $17.3 million ($0.14 per diluted share) for the first quarter of 2011, compared to non-GAAP adjusted EBITDA of $14.8 million ($0.14 per diluted share) for the first quarter of 2010.  Non-GAAP adjusted EBITDA excludes depreciation and amortization, contingent consideration expense, interest income and expense, income taxes, stock compensation expense and material non-recurring items.  The reconciliation of the non-GAAP measures to the GAAP net income in the first quarter of 2011 is detailed i
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SOURCE BioMarin Pharmaceutical Inc.
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