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Questcor Reports Solid Fourth Quarter Results


                          Questcor Pharmaceuticals, Inc.
                         Consolidated Statements of Income
                     (In thousands, except per share amounts)
                                        Three Months Ended     Years Ended
                                            December 31,       December 31,
                                           --------------     --------------
                                           2009      2008     2009      2008
                                           ----      ----     ----      ----
    Net sales                            $25,905   $27,018  $88,320   $95,248
    Cost of sales (exclusive of
     amortization of purchased
     technology)                           1,898     1,858    7,017     7,304
                                           -----     -----    -----     -----
    Gross profit                          24,007    25,160   81,303    87,944
    Gross margin                             93%       93%      92%       92%
    Operating expenses:
      Selling, general and
       administrative                      7,841     5,075   29,950    19,247
      Research and development             2,662     2,511    9,653    10,614
      Depreciation and amortization          121       124      480       503
                                             ---       ---      ---       ---
    Total operating expenses              10,624     7,710   40,083    30,364
                                          ------     -----   ------    ------
    Income from operations                13,383    17,450   41,220   
SOURCE Questcor Pharmaceuticals, Inc.
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