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Cumberland Pharmaceuticals Reports Third Quarter 2012 Financial Results
Date:11/1/2012

NASHVILLE, Tenn., Nov. 1, 2012 /PRNewswire/ -- Cumberland Pharmaceuticals Inc. (NASDAQ: CPIX), a specialty pharmaceutical company focused on hospital acute care and gastroenterology markets, today announced third quarter 2012 financial results.

Net Revenues:  For the three months ended September 30, 2012, net revenues were $12.5 million, compared to $13.1 million in the prior year period.  Prior year revenues were boosted by an increase in Acetadote® volume due to shortages of competitive products.

For the nine months ended September 30, 2012, net revenues were $35.2 million compared with $38.1 million for the nine months ended September 30, 2011.

Operating Expenses:  Total operating expenses for the three months ended September 30, 2012, were $9.6 million compared with $10.0 million for the prior year period.  This decrease was driven by lower selling and marketing expenses associated with our new commercial strategy, partially offset by an increase in R&D expenses.

For the nine months ended September 30, 2012, total operating expenses were $29.6 million, compared to $30.0 million for the nine months ended September 30, 2011.

Net Income:  Net income attributable to common shareholders for the three months ended September 30, 2012, was $1.9 million, or $0.10 per diluted share, up 11% from $0.09 per diluted share for the prior year period.

For the nine months ended September 30, 2012, net income attributable to common shareholders was $4.0 million, or $0.20 per diluted share, compared with $4.7 million, or $0.23 per diluted share, for the same period in 2011.

Cash Flow:  For the nine months ended September 30, 2012, operating cash flows were $5.1 million, compared to $7.7 million for the nine months ended September 30, 2011.

Balance Sheet:  As of September 30, 20
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SOURCE Cumberland Pharmaceuticals Inc.
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