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

r>24,844Accounts receivable, net

6,7086,558Inventory, net

5,3162,586Other current assets  

2,6942,500Restricted cash

5,00010,400Property and equipment, net  

3,1344,169Other noncurrent assets  

9762,020Assets of discontinued operations

--114,845Total assets  

$
,757$
7,922Current liabilities, excluding deferred revenue and liabilities of discontinued operations

$
,849$
,523Deferred revenue, current  

894895Convertible notes, at carrying value (face value of $74.7 million at December 31, 2010 and $97.9 million at December 31, 2009)

88,011105,756Other long term liabilities  

1,2161,734Liabilities of discontinued operations  

1,61718,812Stockholders' equity  

3,17030,202Total liabilities, noncontrolling interests and stockholders' equity  

$
,757$
7,922Verenium CorporationUnaudited Supplemental and Non-GAAP Pro Forma Financial Information (in thousands, except per share amounts)The following unaudited supplemental and non-GAAP pro forma financial information is derived from the Company's condensed consolidated financial statements for the three months and years ended December 31, 2010 and 2009, as reported under GAAP. The Company believes that such supplemental and non-GAAP financial information is helpful to understand the results of operations of the business. Non-GAAP Pro Forma Net Loss From Continuing OperationsThree Months Ended

December 31,Year Ended

December 31,2010200920102009Net loss from continuing operations

$
(1,810)$
(369)$
(14,166)$
(6,364)   Adjustments:  Income tax benefit

(1,820)--(9,748)--Loss on debt extinguishment

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

--(317)(598)(8,946)Gain on amendment of 2008 Notes

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