$ANIP
ANI Pharmaceuticals Inc

2021 Q3 Form 10-Q Financial Statement

#000102302421000021 Filed on November 01, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3 2020 Q2
Revenue $52.06M $52.98M $48.47M
YoY Change -1.73% 3.2% -10.83%
Cost Of Revenue $24.41M $20.12M $20.70M
YoY Change 21.35% 34.1% 32.39%
Gross Profit $27.65M $32.86M $27.78M
YoY Change -15.86% -9.56% -28.28%
Gross Profit Margin 53.11% 62.03% 57.3%
Selling, General & Admin $17.18M $15.73M $21.21M
YoY Change 9.26% 9.53% 49.51%
% of Gross Profit 62.14% 47.85% 76.37%
Research & Development $2.456M $2.939M $3.035M
YoY Change -16.43% -41.01% -47.43%
% of Gross Profit 8.88% 8.94% 10.93%
Depreciation & Amortization $11.35M $11.36M $11.20M
YoY Change -0.11% 19.9% 18.22%
% of Gross Profit 41.04% 34.56% 40.32%
Operating Expenses $19.64M $18.66M $24.25M
YoY Change 5.21% -3.49% 21.48%
Operating Profit -$3.562M $2.802M -$11.31M
YoY Change -227.12% -61.76% -221.69%
Interest Expense -$2.497M -$2.510M -$2.356M
YoY Change -0.52% -24.76% -30.83%
% of Operating Profit -89.58%
Other Income/Expense, Net -$1.071M -$229.0K -$116.0K
YoY Change 367.69% 593.94% -352.17%
Pretax Income -$7.100M $63.00K -$13.80M
YoY Change -11369.84% -98.43% -333.9%
Income Tax -$2.700M -$400.0K -$1.400M
% Of Pretax Income -634.92%
Net Earnings -$4.447M $434.0K -$12.34M
YoY Change -1124.65% -88.86% -287.33%
Net Earnings / Revenue -8.54% 0.82% -25.45%
Basic Earnings Per Share -$0.37 $0.04 -$1.03
Diluted Earnings Per Share -$0.37 $0.04 -$1.03
COMMON SHARES
Basic Shares Outstanding 12.11M 11.99M 11.97M
Diluted Shares Outstanding 12.11M 12.00M 11.97M

Balance Sheet

Concept 2021 Q3 2020 Q3 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $15.25M $17.90M $27.70M
YoY Change -14.78% -70.02% -31.77%
Cash & Equivalents $15.25M $17.90M $27.70M
Short-Term Investments
Other Short-Term Assets $4.702M $3.400M $3.100M
YoY Change 38.29% -32.0% -6.06%
Inventory $61.68M $59.20M $52.56M
Prepaid Expenses $4.702M $3.358M $3.117M
Receivables $106.7M $83.75M $73.16M
Other Receivables $3.030M $1.700M $0.00
Total Short-Term Assets $191.4M $165.8M $156.5M
YoY Change 15.42% -9.09% -7.32%
LONG-TERM ASSETS
Property, Plant & Equipment $39.53M $40.44M $39.94M
YoY Change -2.27% 1.62% 2.4%
Goodwill $3.580M $3.580M $3.580M
YoY Change 0.0%
Intangibles $170.1M $198.6M $205.7M
YoY Change -14.34%
Long-Term Investments
YoY Change
Other Assets $626.0K $985.0K $1.095M
YoY Change -36.45% -97.69% -97.18%
Total Long-Term Assets $279.1M $296.8M $308.8M
YoY Change -5.96% 8.15% 11.1%
TOTAL ASSETS
Total Short-Term Assets $191.4M $165.8M $156.5M
Total Long-Term Assets $279.1M $296.8M $308.8M
Total Assets $470.5M $462.6M $465.4M
YoY Change 1.7% 1.27% 4.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.51M $13.46M $14.21M
YoY Change -14.47% 22.36% 44.99%
Accrued Expenses $4.893M $2.534M $3.066M
YoY Change 93.09% -88.27% -85.94%
Deferred Revenue $100.0K $100.0K $100.0K
YoY Change 0.0%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $15.93M $12.79M $12.33M
YoY Change 24.58% -89.49% -89.73%
Total Short-Term Liabilities $84.87M $75.90M $79.09M
YoY Change 11.82% -55.54% -52.59%
LONG-TERM LIABILITIES
Long-Term Debt $186.1M $175.2M $177.9M
YoY Change 6.22% 169.89% 170.74%
Other Long-Term Liabilities $8.116M $16.42M $17.08M
YoY Change -50.57% 102.72% 151.18%
Total Long-Term Liabilities $194.2M $191.6M $195.0M
YoY Change 1.36% 162.44% 168.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $84.87M $75.90M $79.09M
Total Long-Term Liabilities $194.2M $191.6M $195.0M
Total Liabilities $279.1M $267.5M $274.0M
YoY Change 4.33% 9.8% 14.52%
SHAREHOLDERS EQUITY
Retained Earnings -$23.44M -$1.337M -$1.771M
YoY Change 1653.1%
Common Stock $1.000K $1.000K $1.000K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $191.4M $195.1M $191.3M
YoY Change
Total Liabilities & Shareholders Equity $470.5M $462.6M $465.4M
YoY Change 1.7% 1.27% 4.14%

Cashflow Statement

Concept 2021 Q3 2020 Q3 2020 Q2
OPERATING ACTIVITIES
Net Income -$4.447M $434.0K -$12.34M
YoY Change -1124.65% -88.86% -287.33%
Depreciation, Depletion And Amortization $11.35M $11.36M $11.20M
YoY Change -0.11% 19.9% 18.22%
Cash From Operating Activities -$5.402M -$1.610M $20.88M
YoY Change 235.53% -107.39% 339.58%
INVESTING ACTIVITIES
Capital Expenditures -$571.0K -$1.770M -$720.0K
YoY Change -67.74% 16.45% -55.83%
Acquisitions
YoY Change
Other Investing Activities -$12.00K -$4.050M -$2.120M
YoY Change -99.7% 887.8% -8.62%
Cash From Investing Activities -$583.0K -$5.810M -$2.840M
YoY Change -89.97% 199.48% -28.1%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.022M -2.380M -10.74M
YoY Change 26.97% 209.09% -779.75%
NET CHANGE
Cash From Operating Activities -5.402M -1.610M 20.88M
Cash From Investing Activities -583.0K -5.810M -2.840M
Cash From Financing Activities -3.022M -2.380M -10.74M
Net Change In Cash -9.007M -9.800M 7.300M
YoY Change -8.09% -151.36% 206.72%
FREE CASH FLOW
Cash From Operating Activities -$5.402M -$1.610M $20.88M
Capital Expenditures -$571.0K -$1.770M -$720.0K
Free Cash Flow -$4.831M $160.0K $21.60M
YoY Change -3119.37% -99.31% 238.56%

Facts In Submission

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dei Entity Registrant Name
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ANI PHARMACEUTICALS, INC
dei Entity Incorporation State Country Code
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CY2020Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
939000
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
7202000
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
-8239000
CY2021Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1198000
CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
939000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
7202000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-8239000
CY2021Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-3249000
CY2020Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1373000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-11265000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-27152000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
191344000
CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2383000
CY2020Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
939000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
434000
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
195100000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
191917000
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2808000
CY2021Q3 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
73000
CY2021Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
1198000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-4447000
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
191403000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
212791000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
10543000
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
1523000
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
449000
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
-8239000
us-gaap Net Income Loss
NetIncomeLoss
-18913000
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
195100000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
195700000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
7521000
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
889000
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
336000
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
7202000
us-gaap Net Income Loss
NetIncomeLoss
-18467000
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
191403000
us-gaap Net Income Loss
NetIncomeLoss
-18467000
us-gaap Net Income Loss
NetIncomeLoss
-18913000
us-gaap Share Based Compensation
ShareBasedCompensation
7521000
us-gaap Share Based Compensation
ShareBasedCompensation
10543000
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-8665000
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-9032000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
33568000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
33739000
us-gaap Research And Development In Process
ResearchAndDevelopmentInProcess
0
us-gaap Research And Development In Process
ResearchAndDevelopmentInProcess
3753000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
1718000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
1288000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
us-gaap Asset Impairment Charges
AssetImpairmentCharges
104000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
10921000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
11616000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-8773000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1151000
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-1421000
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-637000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
396000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-146000
anip Increase Decrease In Royalty Payable
IncreaseDecreaseInRoyaltyPayable
-2411000
anip Increase Decrease In Royalty Payable
IncreaseDecreaseInRoyaltyPayable
1004000
us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
-6936000
us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
-545000
anip Increase Decrease Accrued Government Rebates
IncreaseDecreaseAccruedGovernmentRebates
3887000
anip Increase Decrease Accrued Government Rebates
IncreaseDecreaseAccruedGovernmentRebates
2777000
anip Increase Decrease In Returned Goods Reserve
IncreaseDecreaseInReturnedGoodsReserve
5091000
anip Increase Decrease In Returned Goods Reserve
IncreaseDecreaseInReturnedGoodsReserve
6456000
anip Increase Decrease Of Accrued Expenses Compensation And Others
IncreaseDecreaseOfAccruedExpensesCompensationAndOthers
532000
anip Increase Decrease Of Accrued Expenses Compensation And Others
IncreaseDecreaseOfAccruedExpensesCompensationAndOthers
2078000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
15507000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
20976000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
21069000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
62178000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2201000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4025000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-23270000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-66203000
us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
8034000
us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
5657000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
24000000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
15000000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
7500000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
336000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
449000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
262000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0
anip Payment For Treasury Stock Purchases For Restricted Stock Vestings And Forfeitures
PaymentForTreasuryStockPurchasesForRestrictedStockVestingsAndForfeitures
889000
anip Payment For Treasury Stock Purchases For Restricted Stock Vestings And Forfeitures
PaymentForTreasuryStockPurchasesForRestrictedStockVestingsAndForfeitures
1523000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
15151000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
769000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
7388000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-44458000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
12867000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
67361000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
20255000
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
22903000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
7864000
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
62332000
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
5003000
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
5029000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
12867000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
67361000
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
15254000
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
17900000
CY2021Q3 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
5001000
CY2020Q3 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
5003000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
20255000
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
22903000
us-gaap Interest Paid Net
InterestPaidNet
5922000
us-gaap Interest Paid Net
InterestPaidNet
5080000
us-gaap Income Taxes Paid
IncomeTaxesPaid
8360000
us-gaap Income Taxes Paid
IncomeTaxesPaid
4878000
anip Accrual For Other Investing And Financing Activities
AccrualForOtherInvestingAndFinancingActivities
0
anip Accrual For Other Investing And Financing Activities
AccrualForOtherInvestingAndFinancingActivities
399000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
28000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
223000
us-gaap Nature Of Operations
NatureOfOperations
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 18pt;">Overview</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 18pt;">ANI Pharmaceuticals, Inc. and its consolidated subsidiaries, ANIP Acquisition Company and ANI Pharmaceuticals Canada Inc. (together, “ANI,” the “Company,” “we,” “us,” or “our”), is an integrated specialty pharmaceutical company focused on delivering value to our customers by developing, manufacturing, and marketing high quality branded and generic prescription pharmaceuticals, including for diseases with high unmet medical need. We focus on niche and high barrier to entry opportunities, including controlled substances, oncology products (anti-cancer), hormones and steroids, and complex formulations. Our three pharmaceutical manufacturing facilities, of which two are located in Baudette, Minnesota and one is located in Oakville, Ontario, are together capable of producing oral solid dose products, as well as semi-solids, liquids and topicals, controlled substances, and potent products that must be manufactured in a fully-contained environment.</p>
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 18pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0pt 18pt;">The preparation of financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. In the accompanying unaudited interim condensed consolidated financial statements, estimates are </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 18pt;">used for, but not limited to, stock-based compensation, revenue recognition, allowance for credit losses, variable consideration determined based on accruals for chargebacks, administrative fees and rebates, government rebates, returns and other allowances, allowance for inventory obsolescence, valuation of financial instruments and intangible assets, accruals for contingent liabilities, fair value of long-lived assets, income tax provision or benefit, deferred taxes and valuation allowance, determination of right-of-use assets and lease liabilities, purchase price allocations, and the depreciable lives of long-lived assets. Because of the uncertainties inherent in such estimates, actual results may differ from those estimates. Management periodically evaluates estimates used in the preparation of the financial statements for reasonableness.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 18pt;">We are subject to risks and uncertainties as a result of the novel coronavirus (“COVID-19”) pandemic. We are unable to predict the impact that the COVID-19 pandemic will continue to have on our future business, financial condition, and results of operations due to numerous uncertainties. These uncertainties include the occurrence of recurring outbreaks and their severity and the duration of the pandemic, the actions taken to contain the pandemic or mitigate its impact and the direct and indirect economic effects of the pandemic and containment measures, among others. We remain unable to predict the future impact on our estimates and assumptions. There was no material impact to these estimates or assumptions in our consolidated financial statements as of and for the three and nine months ended September 30, 2021 and 2020. Actual results could differ from those estimates, which may change our estimates in future periods. We continue to closely monitor the impact of the COVID-19 pandemic on our business.</p>
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
52061000
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
52979000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
155207000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
151223000
CY2021Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
39526000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
41269000
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
52061000
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
52979000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
155207000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
151223000
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
52061000
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
52979000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
155207000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
151223000
us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
11000000.0
us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
-8700000
CY2021Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
100000
CY2020Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
100000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
300000
CY2021Q3 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
2342000
CY2020Q3 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
2351000
us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
7032000
us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
6450000
CY2021Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
175000
CY2020Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
180000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
527000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
542000
CY2021Q3 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
17000
CY2020Q3 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
18000
us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
74000
us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
67000
CY2021Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
2500000
CY2020Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
2513000
us-gaap Interest Expense Debt
InterestExpenseDebt
7485000
us-gaap Interest Expense Debt
InterestExpenseDebt
6925000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-4447000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
434000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-4447000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
434000
us-gaap Net Income Loss
NetIncomeLoss
-18467000
us-gaap Net Income Loss
NetIncomeLoss
-18913000
us-gaap Net Income Loss
NetIncomeLoss
-18467000
us-gaap Net Income Loss
NetIncomeLoss
-18913000
CY2020Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
-12000
CY2020Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
-13000
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-4447000
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
422000
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-4447000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-18913000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-18467000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-18913000
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12107000
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11991000
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12107000
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11991000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12066000
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
421000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-18467000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11953000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12066000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11953000
CY2020Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
12000
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12107000
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12003000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12066000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11953000
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.37
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.04
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.37
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.04
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.53
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.58
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.53
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.58
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1600000
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1100000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1700000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1300000
CY2021Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
33995000
CY2020Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
41591000
CY2021Q3 us-gaap Retail Related Inventory Packaging And Other Supplies
RetailRelatedInventoryPackagingAndOtherSupplies
3631000
CY2020Q4 us-gaap Retail Related Inventory Packaging And Other Supplies
RetailRelatedInventoryPackagingAndOtherSupplies
3194000
CY2021Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
814000
CY2020Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
886000
CY2021Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
28460000
CY2020Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
20363000
CY2021Q3 us-gaap Inventory Gross
InventoryGross
66900000
CY2020Q4 us-gaap Inventory Gross
InventoryGross
66034000
CY2021Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
5216000
CY2020Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
5231000
CY2021Q3 us-gaap Inventory Net
InventoryNet
61684000
CY2020Q4 us-gaap Inventory Net
InventoryNet
60803000
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2020Q3 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2021Q3 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2021Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
366568000
CY2021Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
196427000
CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
355170000
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
166659000
CY2020 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P9Y4M24D
CY2020Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
10100000
CY2021Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
10100000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
29800000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
30200000
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2020Q3 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2021Q3 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
10057000
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
36828000
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
36080000
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
33103000
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
29755000
CY2021Q3 anip Finite Lived Intangible Assets Amortization Expense Year Five And After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFiveAndAfterYearFive
24318000
CY2021Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
170141000
CY2021Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
400000
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-2700000
CY2021Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.376
CY2021Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-7100000
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-400000
CY2020Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.198
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-6700000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.267
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-25200000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-4700000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.198
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-23600000
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y6M
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
40000
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
57000
us-gaap Operating Lease Cost
OperatingLeaseCost
132000
us-gaap Operating Lease Cost
OperatingLeaseCost
166000
CY2021Q3 us-gaap Variable Lease Cost
VariableLeaseCost
9000
CY2020Q3 us-gaap Variable Lease Cost
VariableLeaseCost
15000
us-gaap Variable Lease Cost
VariableLeaseCost
30000
us-gaap Variable Lease Cost
VariableLeaseCost
44000
CY2021Q3 us-gaap Lease Cost
LeaseCost
49000
CY2020Q3 us-gaap Lease Cost
LeaseCost
72000
us-gaap Lease Cost
LeaseCost
162000
us-gaap Lease Cost
LeaseCost
210000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
35000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
127000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
82000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
56000
CY2021Q3 anip Lessee Operating Lease Liability To Be Paid Year Four And After
LesseeOperatingLeaseLiabilityToBePaidYearFourAndAfter
42000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
342000
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
22000
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
320000
CY2021Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
130000
CY2021Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
190000
CY2021Q3 us-gaap Litigation Settlement Amount Awarded To Other Party
LitigationSettlementAmountAwardedToOtherParty
8400000
CY2021Q3 us-gaap Interest Rate Derivative Liabilities At Fair Value
InterestRateDerivativeLiabilitiesAtFairValue
7926000
CY2020Q4 us-gaap Interest Rate Derivative Liabilities At Fair Value
InterestRateDerivativeLiabilitiesAtFairValue
14109000

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0001023024-21-000021.txt Edgar Link pending
0001023024-21-000021-xbrl.zip Edgar Link pending
anip-20210930.xsd Edgar Link pending
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