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Cumberland Pharmaceuticals Reports Third Quarter 2011 Financial Results
Date:11/3/2011

NASHVILLE, Tenn., Nov. 3, 2011 /PRNewswire/ -- Cumberland Pharmaceuticals Inc. (NASDAQ: CPIX), a specialty pharmaceutical company focused on hospital acute care and gastroenterology markets, today announced third quarter 2011 financial results.

Net Revenue:  For the three months ended September 30, 2011, net revenue was $13.1 million, up from $12.2 million in the prior year period. The growth in net revenue was driven by an increase in sales of Acetadote.

For the nine months ended September 30, 2011, net revenue was $38.1 million, up 15.3% compared with $33.1 million for the nine months ended September 30, 2010.

Operating Expenses:  Total operating expenses for the three months ended September 30, 2011, were $10.0 million compared with $9.7 million for the prior year period. Increases in cost of products sold, research and development expenses and general and administrative expenses were partially offset by a decrease in selling and marketing expenses compared to the prior year.  For the nine months ended September 30, 2011, total operating expenses were $30.0 million compared with $28.8 million for the nine months ended September 30, 2010.

EBITDA:  Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) for the three months ended September 30, 2011, were $3.4 million, up 25% from $2.7 million for the prior year period.  EBITDA for the nine months ended September 30, 2011, grew to $8.9 million, up 79.8% from $5.0 million for the prior year period.

Net Income:  Net income attributable to common shareholders for the three months ended September 30, 2011, was $1.8 million, or $0.09 per diluted share, up 83% from $1.0 million, or $0.05 per diluted share, for the prior year period.

For the nine months ended September 30, 2011, net income attributable to com
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SOURCE Cumberland Pharmaceuticals Inc.
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