EX-99.1 2 b90440taexv99w1.htm EX-99.1 CONSOLIDATED BALANCE SHEET..... Ex-99.1 Consolidated Balance Sheet.....
 

Exhibit 99.1

                 
Condensed Consolidated Statements of Operations (unaudited)   Three Months Ended March 31,
(In thousands, except per share amounts)
  2004
  2003
Product sales
  $ 17,372     $ 12,169  
License and research revenues
    62       14  
 
   
 
     
 
 
 
    17,434       12,183  
 
   
 
     
 
 
Operating expenses:
               
Cost of goods sold
    2,236       3,501  
Research and development
    19,837       20,982  
Intellectual property license expense
          1,350  
Selling, general and administrative
    8,958       9,166  
Restructuring charges
    861       3,602  
 
   
 
     
 
 
 
    31,892       38,601  
 
   
 
     
 
 
Loss from operations before minority interest
    (14,458 )     (26,418 )
Minority interest in net income of consolidated subsidiary
    (1 )     (303 )
 
   
 
     
 
 
Loss from operations after minority interest
    (14,459 )     (26,721 )
Interest income
    308       776  
 
   
 
     
 
 
Net loss
  $ (14,151 )   $ (25,945 )
 
   
 
     
 
 
Basic and diluted net loss per share
  $ (0.41 )   $ (0.75 )
 
   
 
     
 
 
Shares used to compute basic and diluted net loss per share
    34,612       34,550  
 
   
 
     
 
 
                 
Condensed Consolidated Balance Sheets (unaudited)   March 31,   December 31,
(In thousands)
  2004
  2003
Cash and marketable securities
  $ 164,634     $ 180,947  
Other current assets
    44,381       44,392  
Property and equipment, net
    64,644       61,908  
Other assets
    1,972       1,922  
 
   
 
     
 
 
Total assets
  $ 275,631     $ 289,169  
 
   
 
     
 
 
Total liabilities
  $ 33,336     $ 30,434  
Minority interest
    414       413  
Total stockholders’ equity
    241,881       258,322  
 
   
 
     
 
 
Total liabilities and stockholders’ equity
  $ 275,631     $ 289,169