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BioMarin Announces Third Quarter 2011 Financial Results
Date:10/27/2011

NOVATO, Calif., Oct. 27, 2011 /PRNewswire/ -- Financial Highlights ($ in millions, except per share data, unaudited)ItemQ3 2011Q3 2010 ComparisonTotal BioMarin Revenue

$113.4

16.0% increaseTotal Net Product Revenue

$112.9

16.9% increaseNaglazyme Net Product Revenue

$55.9

8.1% increaseAldurazyme BioMarin Net Product Revenue*

$23.0

$16.5Kuvan Net Product Revenue

$30.5

16.4% increaseFirdapse Net Product Revenue

$3.5

59.1% increaseGAAP Net Income (Loss)

$(17.7)

$217.3**GAAP Net Income (Loss) per share

$(0.16) (basic and diluted)

$2.13 (basic), $1.68 (diluted)Non-GAAP Adjusted EBITDA

$4.6

$18.1Non-GAAP Adjusted EBITDA per share

$0.04 (basic and diluted)

$0.18 (basic), $0.15 (diluted)   *   Net product transfer revenue had a positive $4.0 million impact on net Aldurazyme revenue to BioMarin in the third quarter of 2011 and an immaterial impact on net Aldurazyme revenue to BioMarin in the third quarter of 2010.**  During the third quarter of 2010, the company reversed its deferred tax asset valuation allowance and recorded a one-time benefit of $223.1 million.BioMarin Pharmaceutical Inc. (Nasdaq: BMRN) today announced financial results for the third quarter of 2011. GAAP net loss was $17.7 million ($0.16 per diluted share) for the third quarter of 2011, compared to GAAP net income of $217.3 million ($1.68 per diluted share) for the third quarter of 2010.  During the third quarter of 2010, the company reversed its deferred tax asset valuation allowance and recorded a one-time benefit of $223.1 million.  Non-GAAP adjusted EBITDA was $4.6 million ($0.04 per diluted share) for the third quarter of 2011, compared to non-GAAP adjusted EBITDA of $18.1 million ($0.15 per diluted share) for the third quarter of 2010.  Non-GAAP ad
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SOURCE BioMarin Pharmaceutical Inc.
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