Cornerstone Therapeutics Reports Year Ended December 31, 2008 Financi...((4105) (13098) Total stockholder...)

Date:3/26/2009

(4,105) (13,098) Total stockholders' equity (deficit) 29,426 (12,295) Total liabilities and stockholders' equity (deficit) $69,889 $15,909 CORNERSTONE THERAPEUTICS INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited) Year Ended December 31, 2008 2007 Cash flows from operating activities Net income $8,993 $570 Adjustments to reconcile net income to net cash provided by operating activities: Amortization and depreciation 1,425 3,231 Change in allowance for prompt payment discounts 221 38 Change in allowance for inventory obsolescence 476 101 Stock-based compensation 749 801 Loss on marketable security 8 323 Write-off of acquired in-process research and development 1,900 - Impairment of property and equipment 56 - Benefit for deferred income taxes (3,310) - Changes in operating assets and liabilities: Accounts receivable (5,050) (4,287) Amounts due from related parties - 117 Inventories (2,400) (1,252) Prepaid expenses (602) (12) Accounts payable 2,573 783 Accrued expenses 4,505 1,020 Income
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