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369,701$
315,721Collaborative agreement revenues1753556822,379Royalty and license revenues2,9622,7755,8846,556Total revenues101,61487,081376,267324,656OPERATING EXPENSES:Cost of sales (excludes amortization of developed
product technology)20,46916,72970,28565,909Research and development42,19727,443147,309115,116Selling, general and administrative42,09836,528151,723124,290Intangible asset amortization and contingent consideration200—6,4062,914Total operating expenses104,96480,700375,723308,229INCOME (LOSS) FROM CONTINUING OPERATIONS(3,350)6,38154416,427Equity in the loss of BioMarin/Genzyme LLC(797)(821)(2,991)(2,594)Interest income9191,0354,1125,086Interest expense(2,257)(2,715)(10,329)(14,090)Debt conversion expense (13,728)-(13,728)-Impairment loss on equity investments---(5,848)Net gain (loss) from sale of investments(25)-9021,585INCOME (LOSS) BEFORE INCOME TAXES(19,238)3,880(21,490)566Provision for (benefit from) income taxes(7,049)(831)(227,309)1,054NET INCOME (LOSS)$
(12,189)$
4,711$
205,819$
(488)NET INCOME (LOSS) PER SHARE, BASIC$
(0.11)$
0.05$
1.99$
(0.00)NET INCOME (LOSS) PER SHARE, DILUTED$
(0.11)$
0.05$
1.73$
(0.00)Weighted average common shares outstanding, basic107,344100,768103,093100,271Weighted average common shares outstanding, diluted107,344102,454125,674100,271(1) December 31, 2009 balances were derived from the audited consolidated financial statements.Appendix A – Non-GAAP Adjusted EBITDA for 2010 and 2009Reconciliation of GAAP Net Income (Loss) to EBITDA and Adjusted EBITDAFor the Four Quarters and Fiscal Year 2010 (and 2011 Guidance)(in millions)(unaudited) 2010Three Months EndedYear Ended DecemberYear Ending
December 31, 2011NOTESMarch 31June 30September 30December 3131, 2010GuidanceGAAP Net Income/(Loss)$
.2$
(0.5)$
217.3$
(12.2)$
205.8 $(60) - $(48) Interest expense, net1.21.62.01.46.2 6 Income
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