10-02 :: February 2010
nanotimes
17
Companies
Facts
portfolio, with little overlap of customers between the fourth quarter of 2009 was $35.0 million, a
the two companies. The proximity of Excelsyn’s busi- decrease of 29% compared to total contract revenue
ness to European customers has been an important of $49.6 million reported in the fourth quarter of
factor in these customers’ decisions to award busi- 2008.
ness to Excelsyn. Under the terms of the agreement,
AMRI has purchased all of the outstanding shares of Total revenue for the full year ended December 31,
Excelsyn for approximately $19 million in cash. 2009 was $196.4 million, a decrease of $32.9 milli-
on or 14% compared to $229.3 million in 2008.
“We are pleased to add these scientific and techni-

http://www.amriglobal.com
cal capabilities and talent to our menu of chemical
development and manufacturing services,” said Dr.
Steve Hagen, AMRI Vice President of Pharmaceutical A
rrowhead Research Corporation (NASDAQ:
ARWR) announced financial results for its fiscal
Development and Manufacturing. “Besides gaining 2010 first quarter ended December 31, 2009. For
a number of established customer relationships, we the quarter ended December 31, 2009, Arrowhead
anticipate greater success in increasing our current reported revenue of $148,000, compared with
European customer base by being able to perform $702,000 in the quarter ended December 31, 2008.
work in close proximity to companies previously The prior period revenue included $535,000 in
reluctant to work with a long distance provider.” Dr. proceeds from license fees and grants, which were
Hagen continued, “We anticipate the time to transiti- not repeated in the current period. The sale of car-
on to be minimal given the close alignment of com- bon nanotubes by Unidym comprised comparable
pany cultures, with a focus on the highest quality, revenue in both periods. Total operating expenses
customer service and commitment to excellence. We for the quarter ended December 31, 2009 were $2.3
are excited to have this organization become part of million, a decrease of $7.0 million from $9.3 milli-
the AMRI family.” on during the quarter ended December 31, 2008.
Net loss for the quarter ended December 31, 2009
Furthermore, AMRI reported financial and operating was $1.5 million, or $0.03 per share based on 58.6
results for the fourth quarter and full year ending De- million weighted average shares outstanding. This
cember 31, 2009. Total revenue for the fourth quar- compares with a net loss of $8.0 million, or $0.19
ter of 2009 was $43.4 million, a decrease of 23% per share based on 42.9 million weighted average
compared to total revenue of $56.4 million reported shares outstanding, for the quarter ended December
in the fourth quarter of 2008. Recurring royalties in- 31, 2008.
creased 13% to $7.6 million from the fourth quarter

http://www.arrowheadresearch.com
of 2008. Full year cash flow from operations increa-
sed 48% from full year 2008 levels to $39.1 million.
The Company recorded full year free cash flow of B
ASF (USA (CUSIP: 055262505/Bloomberg: BAS
GY), Germany, presented Paliocrom
®
Brilliant
$23.9 million, representing a $21.3 million increase Orange L 2850, the first of a new generation of
over full year 2008 levels. Total contract revenue for effect pigments. Exceptional brilliance and ultra-high