PLYMOUTH MEETING, Pa., March 17 /PRNewswire-Asia-FirstCall/ -- BMP Sunstone Corporation (Nasdaq: BJGP) ("BMP Sunstone" or the "Company"), today announced financial results for the fourth quarter and fiscal year ended December 31, 2008.
Financial Highlights as of December 31, 2008: -- Fourth quarter revenues increased to $36.6 million, from $9.2 million in the fourth quarter of 2007. -- Non-GAAP operating income, as defined below, was $3.5 million for the quarter, improving from a loss of $4.7 million in the prior year period. Non-GAAP operating income for the twelve-month period was $10.5 million. -- Non-GAAP net income, as defined below, was $3.8 million for the quarter. Non-GAAP net income was $7.2 million for the twelve-month period. -- Non-GAAP EPS, as defined below, was $0.09 for the quarter and $0.19 for the twelve-month period. -- EBITDA was $10.6 million for the full year 2008.
Non-GAAP operating income, net income, and earnings per share exclude stock based compensation expense, amortization related to acquisitions, and amortization of debt discount and issuance cost. EBITDA is a non-GAAP measure which provides earnings before interest, taxes, depreciation and amortization. Please refer to the financial reconciliations provided in this news release for a reconciliation of GAAP results to non-GAAP results for the three and twelve month periods ended December 31, 2008 and 2007.
David Gao, Chief Executive Officer of BMP Sunstone, stated, "We are very
proud of the progress we have made over the course of the last year,
especially in light of the economic environment. We generated $3.3 million of
operating cash flow through the year and the Sunstone acquisition greatly
improved our top line and gross margin performance, while reven
|SOURCE BMP Sunstone Corporation|
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