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1,999,2853,604,5132,695,1544,839,380Income tax expense
(263,031)(1,436,365)(545,059)(1,959,949)Net and comprehensive income
1,736,2542,168,1482,150,0952,879,431Net loss attributableto noncontrolling interests
8,0369,47117,40319,348Net income attributable tocommon shareholders
$
,744,290$ 2,177,619$
2,167,498$
2,898,779Earnings per share attributable to common shareholders- basic
$
.09$
.11$
.11$
.14- diluted
$
.09$
.11$
.11$
.14Weighted-average shares outstanding- basic
19,771,16720,471,62119,889,58320,458,842- diluted
19,996,80520,661,71920,117,24620,719,714
CUMBERLAND PHARMACEUTICALS INC. AND SUBSIDIARIESCondensed Consolidated Statements of Cash Flows(Unaudited) Six Months Ended June 30,20122011Cash flows from operating activities:Net income
$
2,150,095$
2,879,431Adjustments to reconcile net income to net cash flows from operating activities:Depreciation and amortization expense
441,199527,301Stock-based compensation - nonemployees
75,44444,574Stock-based compensation - employees
315,344315,513Excess tax benefit derived from exercise of stock options
(854,988)(1,516,569)Noncash interest expense
12,038123,654Net unrealized investment gains
(34,604)-Net changes in assets and liabilities affecting operating activities:Accounts receivable
2,091,278325,760Inventory
(1,541,912)230,591Other current assets and other assets
(173,889)704Accounts payable and other accrued liabilities
1,362,3852,009,529Other long-term liabilities
(596,911)(5,141)Net cash provided by operating activities
3,245,4794,935,347Cash flows from investing activities:Additions to property and equipment
(178,886)(105,838)Purchases of marketable securities
(18,356,482)-Proceeds from marketable securities
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| SOURCE Cumberland Pharmaceuticals Inc. Copyright©2012 PR Newswire. All rights reserved |