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BioMarin Announces Fourth Quarter and Full Year 2010 Financial Results
Date:2/17/2011

NOVATO, Calif., Feb. 17, 2011 /PRNewswire/ -- Financial Highlights ($ in millions, except per share data, unaudited)ItemFY 2010FY 2009 ComparisonTotal BioMarin Revenue

$376.3

15.9% increaseTotal Net Product Revenue

$369.7

17.1% increaseNaglazyme Net Product Revenue

$192.7

14.2% increaseAldurazyme BioMarin Net Product Revenue*

$71.2

$70.2Kuvan Net Product Revenue

$99.4

29.4% increaseFirdapse Net Product Revenue

$6.4

NAGAAP Net Income (Loss)

$205.8**

$(0.5)GAAP Net Income per share

$2.00 (basic), $1.73 (diluted)

$(0.00) (basic and diluted)Non-GAAP Net Income

$34.8

$47.1Non-GAAP Net Income per share

$0.34 (basic), $0.33 (diluted)

$0.47 (basic), $0.46 (diluted)   *
Net product transfer revenue had a $3.2 million impact on net Aldurazyme revenue to BioMarin in 2010 and an $8.4 million impact on net Aldurazyme revenue to
BioMarin in 2009.**  During the third quarter of 2010, the company reversed its deferred tax asset valuation allowance and recorded a credit of $223.1 million.BioMarin Pharmaceutical Inc. (Nasdaq: BMRN) today announced financial results for the fourth quarter and full year 2010.  GAAP net loss was $12.2 million ($0.11 per diluted share) for the fourth quarter of 2010, compared to GAAP net income of $4.7 million ($0.05 per diluted share) for the fourth quarter of 2009.  The GAAP net loss for the fourth quarter of 2010 includes $13.7 million of debt conversion expense associated with the early conversion of a portion of our convertible debt.  Non-GAAP net income was $11.3 million ($0.10 per diluted share) for the fourth quarter of 2010, compared to non-GAAP net income of $13.5 million ($0.13 per diluted share) for the fourth quarter of 2009.  Non-GAAP net income excludes non-cash stock compensation
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SOURCE BioMarin Pharmaceutical Inc.
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