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Cumberland Pharmaceuticals Reports Third Quarter 2010 Financial Results
Date:11/11/2010

QUITYCurrent liabilities:Current portion of long-term debt

$   2,666,668$
9,061,973Current portion of other long-term obligations

12,035144,828Accounts payable

3,416,3705,632,796Other accrued liabilities

3,817,8223,784,777Total current liabilities

9,912,89518,624,374Revolving line of credit

1,825,9511,825,951Long-term debt, excluding current portion

3,333,3328,938,027Other long-term obligations, excluding current portion

211,757184,632Total liabilities

15,283,93529,572,984Commitments and contingenciesRedeemable common stock

-1,930,000Equity:Shareholders' equity:Common stock - no par value; 100,000,000 shares authorized;20,353,849 and 20,180,486(1) shares issued and outstandingas of September 30, 2010 and December 31, 2009, respectively

68,521,47067,711,746Retained earnings

6,161,2524,542,126Total shareholders' equity

74,682,72272,253,872Noncontrolling interests

(56,791)(32,536)Total equity

74,625,93172,221,336Total liabilities and equity

$ 89,909,866$  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 SUBSIDIARIES
Condensed Consolidated Statements of Income
(Unaudited)Three months ended September 30,Nine months ended September 30,2010200920102009Net revenues

$
2,190,870$
3,597,760$
33,061,457$
32,822,972Costs and expenses:Cost of products sold

909,4341,761,0692,632,4473,271,363Selling and marketing

5,692,0486,087,80717,147,68314,611,796Research and development

1,138,955640,8772,947,6234,041,719General and administrative

1,806,9752,537,6275,471,0125,218,925Amortization of productlicense right

171,732171,726515,184515,178Other

27,86926,59583,283
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SOURCE Cumberland Pharmaceuticals Inc.
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