COLUMBIA, Md., June 6 /PRNewswire-FirstCall/ -- Martek Biosciences Corporation (Nasdaq: MATK - News) today announced its financial results for the second quarter of fiscal 06 (2nd Qtr 06), which ended April 30, 2006. For the 2nd Qtr 06, revenues of $70.2 million were achieved, compared to $55.8 million for the second quarter of fiscal 05 (2nd Qtr 05). For the 2nd Qtr 06, Martek generated net income of $6.3 million, or $0.19 per diluted share, compared to net income of $3.4 million, or $0.11 per diluted share, for the 2nd Qtr 05. The 2nd Qtr 06 earnings include stock-option-based compensation expenses of approximately $1.0 million resulting from the Company's adoption of SFAS 123R in fiscal 2006. If these non-cash compensation expenses were excluded, net of their income tax effects, the Company's net income on a non-GAAP basis would have been $6.9 million, or $0.21 per diluted share, for the 2nd Qtr 06 (see "Reconciliation of GAAP to Non-GAAP Net Income Measure" below).
