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Cumberland Pharmaceuticals Reports Third Quarter Financial Results

other current liabilities

(2,942,455)4,178,708Other long-term liabilities

112,737(655,201)Net cash provided by operating activities

938,7615,147,479Cash flows from investing activities:Additions to property and equipment

(92,435)(293,693)Purchases of marketable securities

(4,371,508)(18,849,492)Proceeds from sale of marketable securities

1,758,906389,302Additions to intangible assets

(2,600,266)(1,621,100)Net cash used in investment activities

(5,305,303)(20,374,983)Cash flows from financing activities:Net borrowings (repayments) on line of credit

500,000(500,000)Exercise of stock options

(41,292)580,101Excess tax (expense) benefit derived from exercise of stock options

(511,908)2,176,222Repurchase of common shares

(3,918,436)(6,826,394)Net cash used in financing activities

(3,971,636)(4,570,071)Net decrease in cash and cash equivalents

(8,338,178)(19,797,575)Cash and cash equivalents at beginning of period

54,349,38170,599,146Cash and cash equivalents at end of period



50,801,571Supplemental disclosure of cash flow information:Non-cash investing and financing activities:Net change in unpaid additions to intangibles, property and equipment




SOURCE Cumberland Pharmaceuticals Inc.
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