Reconciliation of GAAP Loss from Operations to Non-GAAP Loss from Operations
(In thousands)
(Unaudited)
For the Three Months For the Six Months
Ended Ended
June 30, March 31, July 1, June 30, July 1,
2007 2007 2006 2007 2006
GAAP - loss from
operations $(7,092) $(5,571) $(6,503) $(12,662) $(20,178)
Increased depreciation
due to shorter
economic
life of Hillview
facility included in:
Total cost of
sales - - - - 4,519
Research and
development - - - - 1,118
Marketing and
selling - - - - 322
General and
administrative - - - - 744
Stock-based compensation
included in:
Total cost of
sales 124 111 (59) 235 68
Research and
development 142 231 311 373 649
Marketing and
selling 242 258 235 499 425
General and
administrative 424 304 309 729 587
Restructuring and
other (103) 63 (22) (40) 285
Non-GAAP - loss from
operations $(6,263) $(4,604) $(5,729) $(10,866) $(11,461)
SIPEX CORPORATION
Reconciliation of GAAP Net Loss to Non-GAAP Net Loss
(In thousands)
(Unaudited)
For the Three Months For the Six Months
Ended Ended
June 30, March 31, July 1, June 30, July 1,
2007 2007 2006 2007 2006
GAAP - Net loss $(7,980) $(6,290) $(6,858) $(14,270) $(20,657)
Increased depreciation
due to shorter
economic
life of Hillview
facility included in:
Total cost of sales - - - - 4,519
Research and
development - - - - 1,118
Marketing and
selling - - - - 322
General and
administrative - - - - 744
Stock-based compensation
included in:
Total cost of sales 124 111 (59) 235 68
Research and
development 142 231 311 373 649
Marketing and
selling 242 258 235 499 425
General and
administrative 424 304 309 729 587
Restructuring and
other (103) 63 (22) (40) 285
Non-GAAP - Net loss $(7,151) $(5,323) $(6,084) $(12,474) $(11,940)
SIPEX CORPORATION
Reconciliation of GAAP Net Loss Per Share to Non-GAAP Net Loss Per Share
(In thousands, except per share data)
(Unaudited)
For the Three Months For the Six Months
Ended Ended
June 30, March 31, July 1, June 30, July 1,
2007 2007 2006 2007 2006
GAAP - Net loss per share $(0.42) $(0.34) $(0.39) $(0.76) $(1.16)
Increased depreciation due
to shorter economic
life of Hillview facility
included in:
Total cost of sales - - - - 0.25
Research and development - - - - 0.06
Marketing and selling - - - - 0.02
General and
administrative - - - - 0.04
Stock-based compensation
included in:
Total cost of sales 0.01 0.01 (0.00) 0.01 0.00
Research and development 0.01 0.01 0.02 0.02 0.04
Marketing and selling 0.01 0.01 0.01 0.03 0.02
General and
administrative 0.02 0.02 0.02 0.04 0.03
Restructuring and other (0.01) 0.00 (0.00) (0.00) 0.02
Non-GAAP - Net loss per share
(1) $(0.38) $(0.29) $(0.34) $(0.67) $(0.67)
Weighted average common shares
outstanding - basic
and diluted 18,798 18,547 17,775 18,673 17,775
(1) Amounts may not aggregate to the total due to rounding
Web site: http://www.sipex.com/
