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Cumberland Pharmaceuticals Reports Second Quarter 2009 Financial Results
Date:8/27/2009

attributable to common shareholders - basic $0.10 $0.03 $0.24 $0.15 Earnings per share attributable to common shareholders - diluted $0.07 $0.02 $0.15 $0.09 CUMBERLAND PHARMACEUTICALS INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) Six Months Ended June 30, ------------------------- 2008 2009 ---- ---- Cash flows from operating activities: Net income $2,453,673 $1,493,266 Adjustments to reconcile net income to net cash flows from operating activities: Gain on early extinguishment of other long-term obligations (38,577) - Depreciation and amortization expense 392,896 398,341 Nonemployee stock granted for services received 27,500 182,091 Nonemployee stock option grant expense - 826,290 Stock-based compensation - employee stock options 121,725 313,064 Excess tax benefit derived from exercise of stock options (156,758) (2,842,825) Noncash interest expense 63,113 29,376 Net changes in assets and liabilities affecting operating activities: Accounts receivable (627,785) (125,024) Inventory
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