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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 :

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2. Cumberland Pharmaceuticals to Announce 2010 Financial Results on March 8, 2011
3. Cumberland Pharmaceuticals Receives FDA Approval for New Formulation of Acetadote
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