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| BMRN > SEC Filings for BMRN > Form 8-K on 21-Feb-2013 | All Recent SEC Filings |
21-Feb-2013
Results of Operations and Financial Condition, Financial Statements a
On February 21, 2013, BioMarin Pharmaceutical Inc. (the "Company") announced financial results for its fourth quarter and year ended December 31, 2012. The Company's press release issued on February 21, 2013 is attached hereto as Exhibit 99.1 and is incorporated by reference herein.
In its press release the Company included net loss for the three months and full year ended December 31, 2012 and December 31, 2011 and financial guidance for the year ending December 31, 2013, both as determined in accordance with U.S. Generally Accepted Accounting Principles (GAAP) and on a non-GAAP basis. In the press release, the non-GAAP income presented is based on GAAP Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) and further adjusted to also exclude certain non-cash stock compensation expense, non-cash contingent consideration expense and certain other nonrecurring material items (Non-GAAP Adjusted EBITDA). The reconciliation of the non-GAAP financial measures to the comparable GAAP financial measures are included in the press release attached hereto as Exhibit 99.1.
The Company believes this non-GAAP information is useful to investors, taken in conjunction with the Company's GAAP information because it provides additional information regarding the performance of the Company's core ongoing business, Naglazyme, Kuvan, Aldurazyme and Firdapse and development of its pipeline. By providing information about both the overall GAAP financial performance and the non-GAAP measures that focus on continuing operations, the Company believes that the additional information enhances investors' overall understanding of the Company's business and prospects for the future. Further, the Company uses both GAAP and non-GAAP results and expectations internally for its operating, budgeting and financial planning purposes.
(a) Financial Statements of Business Acquired.
Not applicable.
(b) Pro Forma Financial Information.
Not Applicable.
(c) Shell Company Transactions.
Not Applicable.
(d) Exhibits.
Exhibit 99.1 Press Release of the Company dated February 21, 2013.
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