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BioMarin Announces Third Quarter 2010 Financial Results
Date:10/28/2010

NOVATO, Calif., Oct. 28 /PRNewswire-FirstCall/ --

Financial Highlights ($ in millions, except per share data, unaudited)ItemQ3 2010Q3 2009 ComparisonTotal BioMarin Revenue

$97.8

21.0% increaseTotal Net Product Revenue

$96.6

23.2% increaseNaglazyme Net Product Revenue

$51.7

22.8% increaseAldurazyme BioMarin Net Product Revenue*

$16.5

$14.6Kuvan Net Product Revenue

$26.2

20.7% increaseFirdapse Net Product Revenue

$2.2

NAGAAP Net Income

$217.3**

$6.6GAAP Net Income per share

$2.13 (basic), $1.68 (diluted)

$0.7 (basic and diluted)Non-GAAP Net Income

$6.0

$15.5Non-GAAP Net Income per share

$0.06 (basic and diluted)

$0.15 (basic), $0.14 (diluted)   *   Net product transfer revenue had an immaterial impact on net Aldurazyme revenue to BioMarin in the third quarter of 2010 and a negative $1.3 million impact on net Aldurazyme revenue to BioMarin in the third quarter of 2009.** During the third quarter of 2010, the company reserved its deferred tax asset valuation allowance and recorded a one-time credit of $223.1 million. BioMarin Pharmaceutical Inc. (Nasdaq: BMRN) today announced financial results for the third quarter of 2010.  GAAP net income was $217.3 million ($1.68 per diluted share) for the third quarter of 2010, compared to GAAP net income of $6.6 million ($0.07 per diluted share) for the third quarter of 2009.  Non-GAAP net income was $6.0 million ($0.06 per diluted share) for the third quarter of 2010, compared to non-GAAP net income of $15.5 million ($0.14 per diluted share) for the third quarter of 2009.  Non-GAAP net income excludes non-cash stock compensation expense, certain nonrecurring material items and the tax effect of the adjustments.  The reconciliation of the non-GAAP measures to the GAAP ne
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SOURCE BioMarin Pharmaceutical Inc.
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