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ANI Pharmaceuticals Reports Net Revenues of $6.2 million and adjusted non-GAAP EBITDA of $1.2 Million for the Second Quarter Ended June 30, 2013
Date:8/9/2013

BAUDETTE, Minn., Aug. 9, 2013 /PRNewswire/ -- ANI Pharmaceuticals, Inc. (NASDAQ: ANIP) today reported results for the three and six months ended June 30, 2013.

Second quarter and first half highlights include:

  • Second quarter net revenues of $6.2 million increased 19% versus $5.2 million for the same period in 2012.
  • Second quarter adjusted non-GAAP EBITDA of $1.2 million increased 66% over the prior year period.
  • First half net revenues of $11.7 million increased 17% versus $10.0 million in the first half of 2012.
  • First half adjusted non-GAAP EBITDA of $1.9 million increased 29% over the prior year period.
  • Completion of merger with BioSante Pharmaceuticals, Inc., resulting in an improved balance sheet with $12.6 million of unrestricted cash and no debt.
  • Net revenues and Adjusted non-GAAP EBITDAThree months ended June 30,Six months ended June 30,2013201220132012Net revenues

    $  6,151,539

    $  5,186,793

    $  11,713,448

    $ 10,013,595Adjusted non-GAAP EBITDA(a)

    $  1,204,412

    $
    727,063

    $
    ,886,400

    $   1,463,068(a) See Table 2 for US GAAP reconciliation. 

    Arthur S. Przybyl, President and CEO, stated, "Our business operations demonstrated significant operating leverage during the quarter; we increased our revenues by 19%, or $1 million, while decreasing our cost of sales by 1%. This result helped generate adjusted non-GAAP EBITDA of $1.2 million. Also during the quarter, we completed our merger, strengthening our balance sheet, and potentially providing us with future royalties from a product partnered with Teva. We are now listed on NASDAQ under our new symbol, ANIP. We filed one new ANDA during the quarter and remain on track to file four additional ANDAs prior to year end as we continue to invest in
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    SOURCE ANI Pharmaceuticals, Inc.
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