BioMarin's Big Quarter: Fool by Numbers

On Feb. 20, BioMarin Pharmaceutical (Nasdaq: BMRN) released fourth-quarter earnings for the period ended Dec. 31.

• Revenues have shot up by 132.4% due to increased revenues from Naglazyme and Aldurazyme.
• The net loss narrowed for the quarter because of better revenues and improvement in margins.
• In January, the company reported positive data for its phase 3 trials of Phenoptin for PKU, a metabolic disease.
• BioMarin announced that the remaining $51.4 million of convertible notes due 2008 was converted into common stock
• The company expects a net loss to the tune of $20 million to $25 million for fiscal 2007, which includes non-cash stock compensation expense of about $16 million to $18 million.
• BioMarin is highly regarded in Motley Fool CAPS, where it sports a four-star rating.

(Figures in millions, except per-share data)

Income Statement Highlights

	Q4 2006	Q4 2005	Change
Sales	$22.0	$9.5	132.4%
Net Profit	($10.4)	($15.0)	N/A
EPS	($0.11)	($0.20)	N/A
Diluted Shares	91.6	74.0	23.6%

Get back to basics with a look at the income statement.

Margin Checkup

	Q4 2006	Q4 2005	Change*
Gross Margin	83.6%	86.0%	(2.4)
Operating Margin	(52.5%)	(135.4%)	82.9
Net Margin	(47.2%)	(158.3%)	111.1

*Expressed in percentage points.

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Balance Sheet Highlights

Assets	Q4 2006	Q4 2005	Change
Cash + ST Invest.	$288.8	$47.8	504.4%
Accounts Rec.	$14.7	$5.9	150.3%
Inventory	$25.1	$10.9	130.1%

Liabilities	Q4 2006	Q4 2005	Change
Accounts Payable*	$32.2	$20.9	53.7%
Long-Term Debt	$223.9	$125.0	79.2%

*Accounts payable include accrued liabilities.

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Cash Flow Highlights

A statement of cash flows was not provided.

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Fool by Numbers is designed to give you the raw earnings information in a timely fashion, putting all the numbers you need in one easy-to-read place. But at The Motley Fool, we believe numbers tell only part of the story, so check Fool.com for more of our in-depth discussion of what the numbers mean. This data has been provided by Netscribes. To provide feedback on this article, please click on the "feedback" button below.