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

ders' equity:Common stock – no par value; 100,000,000 shares authorized; 20,338,461 and 20,180,486 (1)

shares issued and outstanding as of December 31, 2010 and 2009, respectively 70,778,87467,711,746Retained earnings6,998,8064,542,126Total shareholders’ equity77,777,68072,253,872Noncontrolling interests(62,205)(32,536)Total equity77,715,47572,221,336Total liabilities and equity$   92,054,054$  103,724,320(1)  Number of shares issued and outstanding represents total shares of common stock regardless of classification on the consolidated balance sheet. The number of shares of redeemable common stock as of December 31, 2009 was 142,016. CUMBERLAND PHARMACEUTICALS INC. AND SUBSIDIARIESCondensed Consolidated Statements of IncomeThree Months and Years ended December 31, 2010, 2009Three months ended December 31,Year ended December 31,2010200920102009Net revenues

$
2,814,914$
,714,306$
45,876,371$
43,537,278Costs and expenses:Cost of products sold

954,199865,1783,586,6464,136,541Selling and marketing

5,526,8225,582,27822,674,50520,194,074Research and development

1,379,862951,5594,327,4854,993,278General and administrative

2,519,2102,424,1457,990,2227,643,070Amortization of productlicense right

171,727171,726686,911686,904Other

25,57225,985108,855106,776Total costs and expenses

10,577,39210,020,87139,374,62437,760,643Operating income

2,237,522693,4356,501,7475,776,635Interest income

40,51937,322200,20779,363Interest expense

(123,820)(342,720)(1,423,523)(772,927)Income before income taxes

2,154,221388,0375,278,4315,083,071Income tax expense

(1,322,081)(104,836)(2,851,420)(2,024,192)Net income

832,140283,2012,427,0113,058,879Net loss at subsidiary attributable tononcontrolling interests

5,4146,11629,66932,536Net income attributable tocommon shareholders

$
837,554$
289,317$
2,456,680$
3,091,415Earnings per sh
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SOURCE Cumberland Pharmaceuticals Inc.
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