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Cumberland Pharmaceuticals Reports Second Quarter 2010 Financial Results
Date:8/16/2010

>-1,930,000Equity:Shareholders' equity:Common stock - no par value; 100,000,000 shares authorized;20,358,586 and 20,180,486(1) shares issued and outstandingas of June 30, 2010 and December 31, 2009, respectively

68,199,16567,711,746Retained earnings

5,153,0084,542,126Total shareholders' equity

73,352,17372,253,872Noncontrolling interests

(50,143)(32,536)Total equity

73,302,03072,221,336Total liabilities and equity

$ 96,702,030$  103,724,320(1) Number of shares issued and outstanding represent total shares of common stock regardless of classification on the consolidated balance sheet. The number of shares of redeemable common stock at December 31, 2009 was 142,016.CUMBERLAND PHARMACEUTICALS INC. AND SUBSIDIARIESCondensed Consolidated Statements of Income(Unaudited)Three months ended June 30,Six months ended June 30,2010200920102009Net revenues

$  10,739,935$ 9,820,613$  20,870,587$  19,225,212Costs and expenses:Cost of products sold

863,725777,0761,723,0131,510,294Selling and marketing

5,848,1234,383,80211,455,6358,523,989Research and development

1,034,8002,630,7251,808,6683,400,842General and administrative

1,782,8341,236,4353,664,0372,681,298Amortization of product license right

171,726171,726343,452343,452Other

28,86726,73355,41454,196Total costs and expenses

9,730,0759,226,49719,050,21916,514,071Operating income

1,009,860594,1161,820,3682,711,141Interest income

50,33410,160111,01327,756Interest expense

(405,956)(84,224)(751,908)(181,935)Net income before income taxes

654,238520,0521,179,4732,556,962Income tax expense

(374,461)(232,637)(586,198)(1,063,696)Net income

279,777287,415593,2751,493,266Net loss at subsidiary attributable tononcontrolling interests

7,5278,45617,60720,695Net income attributable tocommon shareholders

$
287,304$
295,871$
,882$
,513,961Earnings per share attri
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SOURCE Cumberland Pharmaceuticals Inc.
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