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Cumberland Pharmaceuticals Reports Fourth Quarter and Full Year 2010 Financial Results
Date:3/8/2011

NASHVILLE, Tenn., March 8, 2011 /PRNewswire/ -- Cumberland Pharmaceuticals Inc. (Nasdaq: CPIX), a specialty pharmaceutical company focused on hospital acute care and gastroenterology markets, today announced fourth quarter and full year 2010 financial results.

Net Revenue:  For the three months ended December 31, 2010, net revenue was $12.8 million, up 20% from $10.7 million during the corresponding period in 2009. This quarterly revenue growth was largely driven by 16% year-over-year growth in Acetadote net revenue.

For the year ended December 31, 2010, total net revenue increased by $2.3 million to $45.9 million from $43.5 million for 2009.  

Operating Expenses:  Total operating expenses for the three months ended December 31, 2010, were $10.6 million, compared with $10.0 million for the same period in 2009.  This increase was driven primarily by increased research and development expenses, including FDA fees.

For the year ended December 31, 2010, total operating expenses were approximately $39.4 million, compared with $37.8 million for 2009.  The difference was primarily a result of increased selling and marketing as well as general and administrative expenses, partially offset by lower cost of products sold and lower research and development expenses.

EBITDA:  Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) was $2.5 million for the fourth quarter, up 176% from $0.9 million for the prior year period.

EBITDA was $7.5 million for the year ended December 31, 2010, compared to $6.6 million for the 2009 fiscal year.

Net Income:  Net income attributable to common shareholders for the fourth quarter was $0.8 million, or $0.04 per diluted share, compared to net income of $0.3 million, or $0.01 per diluted share, for the same period in 200
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SOURCE Cumberland Pharmaceuticals Inc.
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Related medicine technology :

1. Cumberland Pharmaceuticals Appoints Tan Cheow Choon as Director of International Business
2. Cumberland Pharmaceuticals to Announce 2010 Financial Results on March 8, 2011
3. Cumberland Pharmaceuticals Receives FDA Approval for New Formulation of Acetadote
4. Cumberland Pharmaceuticals Announces Joey Jacobs Has Joined Its Board of Directors
5. Cumberland Pharmaceuticals Announces Voluntary Recall of Acetadote® Vials
6. Cumberland Pharmaceuticals Reports Third Quarter 2010 Financial Results
7. Cumberland Pharmaceuticals to Announce Third Quarter 2010 Financial Results on November 11, 2010
8. Cumberland Pharmaceuticals and Phebra Pty Ltd. Announce the Launch of Acetadote® in Australia
9. Cumberland Pharmaceuticals Announces Extension of FDA Review of Acetadote® Supplemental New Drug Application
10. Cumberland Pharmaceuticals Reports Second Quarter 2010 Financial Results
11. Cumberland Pharmaceuticals to Present at the Wells Fargo Healthcare Conference in Boston on June 23, 2010
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