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Verenium Reports Financial Results for the Fourth Quarter and Year Ended December 31, 2010
Date:3/1/2011

e

8,5367,44731,71527,929Product Gross Profit

4,7304,41518,63616,027Product Gross Margin

36%37%37%36%   Research and development

2,0681,0206,1985,829   Selling, general and administrative

6,1944,64927,66229,520Total operating expenses

16,79813,11665,57563,278Operating income (loss) from continuing operations

(3,201)240(13,502)(14,459)Other Income and Expense:

  Interest and other expense, net

(1,301)(1,125)(7,481)(10,105)   Loss on debt extinguishment

----(3,384)--   Gain on debt extinguishment upon conversion

--3175988,946   Gain on amendment of 2008 Notes

------3,977   Gain (loss) on net change in fair value of derivative assets and liabilities

872199(145)5,277Total other income (expense), net

(429)(609)(10,412)8,095Loss from continuing operations before income taxes

(3,630)(369)(23,914)(6,364)Income tax benefit

1,820--9,748--Net loss from continuing operations

(1,810)(369)(14,166)(6,364)Discontinued Operations:

  Net income (loss) from discontinued operations, net of income taxes

(1,490)(11,438)8,816(49,876)Less: Loss attributed to noncontrolling interests in consolidated entities – discontinued operations

--8,84925,28334,349Net income (loss) attributed to Verenium

$
(3,300)$
(2,958)$
9,933$
(21,891)Basic and diluted net income (loss) per share:

Continuing Operations

$
(0.14)$
(0.03)$
(1.15)$
(0.75)Discontinued Operations

$
(0.12)$
(1.00)$
.72$
(5.89)Net income (loss) attributed to Verenium

$
(0.26)$
(0.26)$
.62$
(2.58)Shares used in computing basic and diluted net income (loss) per share

12,59111,49312,3218,470Verenium CorporationCondensed Consolidated Balance Sheet Data(unaudited, in thousands)December 31,December 31,20102009Cash and cash equivalents

$
87,929$'/>"/>

SOURCE Verenium Corporation
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