5,657,856Costs associated with sales force realignment**685,267—685,267—Income tax effect of sales force realignment costs(277,533)—(277,533)—Net costs of sales force realignment407,734—407,734—Adjusted net income attributable to common shareholders$
5,657,856Adjusted earnings per share attributable to
0.28Weighted-average shares outstanding:Basic19,048,94520,130,21119,564,62520,342,913Diluted19,245,04720,318,17619,787,53720,572,132** On November 29, 2012, Cumberland Pharmaceuticals Inc. (the "Company") implemented a realignment of its national sales organization to more efficiently cover key targets in support of its three marketed products, Caldolor, Acetadote and Kristalose . As a result of this realignment the Company's sales personnel totaling 64 individuals, consolidated into 8 nationwide districts. The Company does not expect to have further changes to its sales personnel as a result of the realignment. The costs associated with the sales force realignment are one-time expenses recorded during the fourth quarter ending December 31, 2012. As management believes these costs are nonrecurring and important to understanding the Company's business operations, it has presented these separately.
The Company provided the above adjusted financial performance measures, which are considered "non-GAAP" financial measures under applicable Securities and Exchange Commission rules and regulations. These non-GAAP financial measures should be considered supplemental to and not a substitute for financial information prepared in accordance with generally accepted accounting principles. The definition of these non-GAAP measures may differ from similarly titled measures used by others.
|SOURCE Cumberland Pharmaceuticals Inc.|
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