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Depomed Reports Fourth Quarter and Full Year 2012 Financial Results
Date:2/20/2013

t J. Moretti
Depomed, Inc.
510-744-8000
amoretti@depomed.com

 

 DEPOMED, INC.CONDENSED STATEMENTS OF OPERATIONS (in thousands, except share and per share amounts)Three Months Ended December 31,Twelve Months Ended December 31,2012201120122011(Unaudited)(Unaudited)(Unaudited)(1)Revenues:Product sales$

12,489$

508$

27,483$

41,178Royalties13,3367,58644,5359,997License and other revenue7654,03818,79881,798Total revenues26,59012,13290,816132,973Costs and expenses:Cost of sales2,3166196,0395,544Research and development expense3,1852,78215,46215,187Selling, general and administrative expense:Promotion fee expense———27,339Other selling, general and administrative expense24,02121,53897,64654,205Total selling, general and administrative expense24,02121,53897,64681,544Amortization of intangible asset959—2,022—Gain on settlement agreement ———(40,000)Total costs and expenses30,48124,939121,16962,275Income (loss) from operations(3,891)(12,807)(30,353)70,698Other income (expense)76(288)481424Benefit from (provision for) income taxes111(741)91(396)Net income (loss)$

(3,704)$

(13,836)$

(29,781)$

70,726Basic net income (loss) per common share$

(0.07)$

(0.25)$

(0.53)$

1.30Diluted net income (loss) per common share$

(0.07)$

(0.25)$

(0.53)$

1.26Shares used in computing basic net income (loss) per common share56,184,21455,438,17455,892,56354,562,820Shares used in computing diluted net income (loss) per common share56,184,21455,438,17455,892,56356,089,796 

 DEPOMED, INC.CONDENSED BALANCE SHEETS(in thousands, except share amounts)December 31,December 31,20122011(Unaudited)(1)Cash, cash equivalents and marketable securities$

77,892$

139,793Accounts receivable, net3,6144,420Receivables
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SOURCE Depomed, Inc.
Copyright©2012 PR Newswire.
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