Effective October 2011, Cumberland named Rick S. Greene as Chief Financial Officer. He had previously been serving as the interim Vice President of Finance and Accounting since April 2011. Mr. Greene has over 20 years of experience in financial management and reporting. Prior to joining Cumberland, Mr. Greene supported the accounting activities associated with the Company's Initial Public Offering and the ongoing preparation of quarterly financial information following Cumberland's stock exchange listing.
Supplemental Financial InformationThe following table presents a reconciliation of Cumberland's net income to EBITDA. The Company defines EBITDA as net income attributable to common shareholders plus interest, income tax, depreciation and amortization, and presents these measures to assist investors in evaluating Cumberland's operating performance and comparing the Company's results with those of other companies. EBITDA should not be considered in isolation from or as a substitute for net income.Three Months Ended September 30,20112010Net income attributable to common shareholders
,001,596Income tax expense
1,278,472943,141Depreciation & amortization
274,182260,011Interest (income) expense, net
2,703,868Nine Months Ended September 30,20112010Net income attributable to common shareholders
,594,871Income tax expense
3,238,4211,529,339Depreciation & amortization
801,483723,687Interest (income) expense, net
4,987,912Conference Call and WebcastA conference call and live Internet webcast will be held on Thursday, November 3, 2011 at 5:00 p.m. Eastern Time to discuss the Company's third quarter 2011 financial results. To pa
|SOURCE Cumberland Pharmaceuticals Inc.|
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