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Cumberland Pharmaceuticals Reports Second Quarter 2011 Financial Results


13,155,98014,338,579Commitments and contingenciesEquity:Shareholders' equity:Common stock - no par value; 100,000,000 shares authorized;20,400,085 and 20,338,461 shares issued and outstandingas of June 30, 2011 and December 31, 2010, respectively

71,609,04370,778,874Retained earnings

9,897,5856,998,806Total shareholders' equity

81,506,62877,777,680Noncontrolling interests

(81,553)(62,205)Total equity

81,425,07577,715,475Total liabilities and equity

$  94,581,055$
92,054,054CUMBERLAND PHARMACEUTICALS INC. AND SUBSIDIARIESCondensed Consolidated Statements of Income(Unaudited)Three months ended June 30,Six months ended June 30,2011201020112010Net revenues

$  14,389,741$ 10,739,935$  25,056,668$  20,870,587Costs and expenses:Cost of products sold

1,283,160863,7252,070,0981,723,013Selling and marketing

5,904,4445,848,12311,193,02811,455,635Research and development

1,027,0481,034,8002,036,7211,808,668General and administrative

2,344,0641,782,8344,324,4553,664,037Amortization of product license right


27,44228,86749,05555,414Total costs and expenses

10,757,8849,730,07520,016,81019,050,219Operating income

3,631,8571,009,8605,039,8581,820,368Interest income

52,26050,33495,169111,013Interest expense

(79,604)(405,956)(295,647)(751,908)Net income before income taxes

3,604,513654,2384,839,3801,179,473Income tax expense

(1,436,365)(374,461)(1,959,949)(586,198)Net income

2,168,148279,7772,879,431593,275Net loss at subsidiary attributable tononcontrolling interests

9,4717,52719,34817,607Net income attributable tocommon shareholders

,882Earnings per share attributable to common shareholders- basic

.03- diluted

.03Weighted-average shares outstanding- b

SOURCE Cumberland Pharmaceuticals Inc.
Copyright©2010 PR Newswire.
All rights reserved

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