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Cumberland Pharmaceuticals Reports Second Quarter 2012 Financial Results
Date:8/2/2012

NASHVILLE, Tenn., Aug. 2, 2012 /PRNewswire/ -- Cumberland Pharmaceuticals Inc. (NASDAQ: CPIX), a specialty pharmaceutical company focused on hospital acute care and gastroenterology markets, today announced second quarter 2012 financial results.

Net Revenues:  For the three months ended June 30, 2012, net revenues were $12.4 million, compared to $14.4 million in the prior year period.  

For the six months ended June 30, 2012, net revenue was $22.6 million compared with $25.1 million for the six months ended June 30, 2011. Prior year revenues were boosted by an increase in Acetadote volume due to shortages of competitive products.

Operating Expenses:  Total operating expenses for the three months ended June 30, 2012, were $10.4 million compared with $10.8 million for the prior year period.  This decrease was driven by lower selling and marketing expenses partially offset by an increase in research and development expenses. For the six months ended June 30, 2012, total operating expenses were $20.0 million, the same as the prior year period ended June 30, 2011.

Net Income:  Net income attributable to common shareholders for the three months ended June 30, 2012, was $1.7 million, or $0.09 per diluted share, compared to $2.2 million, or $0.11 per diluted share, for the prior year period.

For the six months ended June 30, 2012, net income attributable to common shareholders was $2.2 million, or $0.11 per diluted share, compared with $2.9 million, or $0.14 per diluted share, for the same period in 2011.

Cash Flow:  For the six months ended June 30, 2012, operating cash flows were $3.2 million compared to $4.9 million for the six months ended June 30, 2011.

Balance Sheet:  As of June 30, 2012, Cumberland had $70.5 million in cash and securities, with approximately $52.3 million in cash and equivalents and
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SOURCE Cumberland Pharmaceuticals Inc.
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