This excerpt taken from the ABII 8-K filed Mar 3, 2009.
Item 2.02 Results of Operations and Financial Condition.
On March 3, 2009, Abraxis BioScience, Inc. (the Company) issued a press release announcing its preliminary unaudited financial results for the three and twelve months ended December 31, 2008. A copy of the press release is furnished (but not filed) as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.
In addition to reporting financial results in accordance with generally accepted accounting principles (GAAP), the Company presented certain non-GAAP financial measures, including adjusted net income (loss) and adjusted net income (loss) per share. Adjusted net income (loss) and adjusted net income (loss) per share are defined as net income (loss) and net income (loss) per share, respectively, in each case excluding amortization of acquired intangible assets, acquired in-process research and development, reacquisition costs, litigation costs, impairment charge, realized loss on marketable securities and non-cash stock compensation expense. The Company believes that its presentation of non-GAAP financial measures provides useful supplementary information to investors in understanding the underlying operating performance of the Company and facilitates additional analysis by investors. The Company also uses these non-GAAP financial measures internally for operating, budgeting and financial planning purposes. The non-GAAP financial measures presented by the Company may not be comparable to similarly titled measures reported by other companies. The non-GAAP financial measures are in addition to, and not a substitute for or superior to, measures of financial performance calculated in accordance with GAAP. A reconciliation of GAAP net loss to adjusted net income (loss) is included in the press release.