2015 Q4 Form 10-K Financial Statement

#000114420416083848 Filed on February 23, 2016

View on sec.gov

Income Statement

Concept 2015 Q4 2014 Q4 2014 Q3
Revenue $18.04M $21.04M $17.39M
YoY Change -14.27% 99.78% 121.89%
Cost Of Revenue $3.540M $3.670M $3.061M
YoY Change -3.54% 26.12% 12.95%
Gross Profit $14.50M $17.36M $14.33M
YoY Change -16.47% 127.82% 179.48%
Gross Profit Margin 80.4% 82.52% 82.39%
Selling, General & Admin $5.460M $4.740M $4.057M
YoY Change 15.19% 48.13% 16.58%
% of Gross Profit 37.66% 27.3% 28.32%
Research & Development $660.0K $570.0K $883.0K
YoY Change 15.79% 9.62% 94.49%
% of Gross Profit 4.55% 3.28% 6.16%
Depreciation & Amortization $2.110M $1.280M $1.187M
YoY Change 64.84% 190.91% 210.73%
% of Gross Profit 14.55% 7.37% 8.29%
Operating Expenses $8.230M $6.600M $4.940M
YoY Change 24.7% 58.65% 25.57%
Operating Profit $6.268M $10.77M $8.199M
YoY Change -41.81% 211.33% 912.22%
Interest Expense -$2.770M -$800.0K $10.00K
YoY Change 246.25%
% of Operating Profit -44.19% -7.43% 0.12%
Other Income/Expense, Net $0.00 $90.00K $82.00K
YoY Change -100.0% 200.0% -44.59%
Pretax Income $3.500M $10.06M $8.291M
YoY Change -65.21% 188.25% 765.45%
Income Tax $630.0K -$10.95M $1.545M
% Of Pretax Income 18.0% -108.85% 18.63%
Net Earnings $2.880M $21.01M $6.746M
YoY Change -86.29% 512.54% 466.41%
Net Earnings / Revenue 15.97% 99.87% 38.8%
Basic Earnings Per Share $0.25 $1.85 $0.59
Diluted Earnings Per Share $0.25 $1.82 $0.59
COMMON SHARES
Basic Shares Outstanding 11.24M shares
Diluted Shares Outstanding 11.30M shares

Balance Sheet

Concept 2015 Q4 2014 Q4 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $154.7M $169.0M $35.10M
YoY Change -8.46% 1422.52% 222.02%
Cash & Equivalents $154.7M $169.0M $35.05M
Short-Term Investments
Other Short-Term Assets $1.500M $1.100M $600.0K
YoY Change 36.36% 83.33% -79.31%
Inventory $13.39M $7.518M $7.346M
Prepaid Expenses $1.453M $1.139M $599.0K
Receivables $21.93M $17.30M $14.57M
Other Receivables $1.200M $0.00 $0.00
Total Short-Term Assets $192.6M $195.0M $57.57M
YoY Change -1.23% 603.53% 120.6%
LONG-TERM ASSETS
Property, Plant & Equipment $7.131M $5.223M $5.046M
YoY Change 36.53% 15.12% 8.74%
Goodwill $1.838M $1.838M $1.838M
YoY Change 0.0% 0.0% -0.02%
Intangibles $66.40M $42.07M $43.19M
YoY Change 57.84% 304.14% 303.16%
Long-Term Investments
YoY Change
Other Assets $17.30M $15.40M
YoY Change 12.34%
Total Long-Term Assets $92.68M $68.72M $50.07M
YoY Change 34.87% 309.43% 191.27%
TOTAL ASSETS
Total Short-Term Assets $192.6M $195.0M $57.57M
Total Long-Term Assets $92.68M $68.72M $50.07M
Total Assets $285.3M $263.7M $107.6M
YoY Change 8.17% 492.6% 148.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.066M $2.654M $3.059M
YoY Change -22.16% 85.72% 46.58%
Accrued Expenses $617.0K $1.269M $3.888M
YoY Change -51.38% -4.3% 190.54%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $11.76M $13.23M $8.145M
YoY Change -11.16% 274.02% 23.46%
LONG-TERM LIABILITIES
Long-Term Debt $113.4M $106.5M $0.00
YoY Change 6.48%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $113.4M $106.5M $0.00
YoY Change 6.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.76M $13.23M $8.145M
Total Long-Term Liabilities $113.4M $106.5M $0.00
Total Liabilities $125.2M $119.8M $8.100M
YoY Change 4.52% 3285.33% 22.73%
SHAREHOLDERS EQUITY
Retained Earnings -$4.350M -$19.73M -$40.73M
YoY Change -77.95% -59.31% -21.53%
Common Stock $1.000K $1.000K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00 $0.00
YoY Change -100.0% -100.0%
Treasury Stock Shares 0.000 shares 0.000 shares
Shareholders Equity $160.1M $139.8M $99.49M
YoY Change
Total Liabilities & Shareholders Equity $285.3M $259.6M $107.6M
YoY Change 9.9% 483.28% 148.67%

Cashflow Statement

Concept 2015 Q4 2014 Q4 2014 Q3
OPERATING ACTIVITIES
Net Income $2.880M $21.01M $6.746M
YoY Change -86.29% 512.54% 466.41%
Depreciation, Depletion And Amortization $2.110M $1.280M $1.187M
YoY Change 64.84% 190.91% 210.73%
Cash From Operating Activities $4.700M $10.74M $4.160M
YoY Change -56.24% -475.52% -355.21%
INVESTING ACTIVITIES
Capital Expenditures -$1.100M -$340.0K -$410.0K
YoY Change 223.53% 1033.33% 1266.67%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 -$22.11M
YoY Change -100.0%
Cash From Investing Activities -$1.100M -$330.0K -$22.53M
YoY Change 233.33% -114.8% 75000.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 180.0K 123.6M 460.0K
YoY Change -99.85% 15156.79%
NET CHANGE
Cash From Operating Activities 4.700M 10.74M 4.160M
Cash From Investing Activities -1.100M -330.0K -22.53M
Cash From Financing Activities 180.0K 123.6M 460.0K
Net Change In Cash 3.780M 134.0M -17.91M
YoY Change -97.18% 74338.89% 978.92%
FREE CASH FLOW
Cash From Operating Activities $4.700M $10.74M $4.160M
Capital Expenditures -$1.100M -$340.0K -$410.0K
Free Cash Flow $5.800M $11.08M $4.570M
YoY Change -47.65% -491.52% -385.62%

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CY2014 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
2.61
CY2013 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.96
CY2015 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0
CY2014 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0
CY2013 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.04
CY2015 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.34
CY2014 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.61
CY2013 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.92
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
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11370 shares
CY2014 us-gaap Weighted Average Number Of Shares Outstanding Basic
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10941 shares
CY2013 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5071 shares
CY2015 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
1.32
CY2014 us-gaap Income Loss From Continuing Operations Per Diluted Share
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2.59
CY2013 us-gaap Income Loss From Continuing Operations Per Diluted Share
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-0.96
CY2015 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0
CY2014 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0
CY2013 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.04
CY2015 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.32
CY2014 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.59
CY2013 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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11557 shares
CY2014 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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11053 shares
CY2013 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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5071 shares
CY2013 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
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38000 USD
CY2015 anip Non Cash Compensation Relating To Business Combination
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0 USD
CY2014 anip Non Cash Compensation Relating To Business Combination
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0 USD
CY2013 anip Non Cash Compensation Relating To Business Combination
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4418000 USD
CY2015 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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CY2014 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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22033000 USD
CY2013 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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CY2015 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
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0 USD
CY2014 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
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0 USD
CY2013 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
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-195000 USD
CY2015 us-gaap Proceeds From Repayments Of Lines Of Credit
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0 USD
CY2015 us-gaap Net Cash Provided By Used In Operating Activities
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CY2014 us-gaap Net Cash Provided By Used In Operating Activities
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CY2013 us-gaap Net Cash Provided By Used In Operating Activities
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CY2015 us-gaap Cash Acquired In Excess Of Payments To Acquire Business
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CY2014 us-gaap Cash Acquired In Excess Of Payments To Acquire Business
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0 USD
CY2013 us-gaap Cash Acquired In Excess Of Payments To Acquire Business
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18198000 USD
CY2015 us-gaap Increase Decrease In Restricted Cash
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0 USD
CY2014 us-gaap Increase Decrease In Restricted Cash
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0 USD
CY2013 us-gaap Increase Decrease In Restricted Cash
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-2260000 USD
CY2015 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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-32683000 USD
CY2014 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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-35754000 USD
CY2013 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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20267000 USD
CY2015 us-gaap Proceeds From Convertible Debt
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0 USD
CY2014 us-gaap Proceeds From Convertible Debt
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138243000 USD
CY2013 us-gaap Proceeds From Convertible Debt
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0 USD
CY2015 us-gaap Payments For Proceeds From Derivative Instrument Financing Activities
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0 USD
CY2014 us-gaap Payments For Proceeds From Derivative Instrument Financing Activities
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15623000 USD
CY2013 us-gaap Payments For Proceeds From Derivative Instrument Financing Activities
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0 USD
CY2014 us-gaap Proceeds From Repayments Of Lines Of Credit
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0 USD
CY2013 us-gaap Proceeds From Repayments Of Lines Of Credit
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CY2015 us-gaap Payments For Repurchase Of Common Stock
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113000 USD
CY2014 us-gaap Payments For Repurchase Of Common Stock
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433000 USD
CY2015 us-gaap Net Cash Provided By Used In Financing Activities
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CY2013 us-gaap Net Cash Provided By Used In Financing Activities
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CY2015 us-gaap Stock Issued1
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0 USD
CY2014 us-gaap Stock Issued1
StockIssued1
0 USD
CY2013 us-gaap Stock Issued1
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40034000 USD
CY2015 anip Cancellation Of Redeemable Convertible Preferred And Common Stock Value
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0 USD
CY2014 anip Cancellation Of Redeemable Convertible Preferred And Common Stock Value
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0 USD
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53726000 USD
CY2015 anip Acquired Non Cash Net Assets
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0 USD
CY2014 anip Acquired Non Cash Net Assets
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0 USD
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11597000 USD
CY2015 us-gaap Dividends Preferred Stock
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0 USD
CY2014 us-gaap Dividends Preferred Stock
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0 USD
CY2013 us-gaap Dividends Preferred Stock
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4975000 USD
CY2015 us-gaap Nature Of Operations
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CY2014 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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3423000 USD
CY2015 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3856000 USD
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29795000 USD
CY2013 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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36000 USD
CY2015 us-gaap Use Of Estimates
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CY2015 us-gaap Concentration Risk Credit Risk
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CY2013 anip Convertible Preferred Stock Cancelled
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53726000 USD
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4975000 USD
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4418000 USD
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250000 USD
CY2015Q4 anip Chargebacks And Other Accruals As Percent Of Gross Revenue
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0.5 pure
CY2015 us-gaap Allocated Share Based Compensation Expense
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3900000 USD
CY2014 us-gaap Allocated Share Based Compensation Expense
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3400000 USD
CY2013 us-gaap Allocated Share Based Compensation Expense
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36000 USD
CY2015Q4 us-gaap Long Term Debt Percentage Bearing Fixed Interest Rate
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0.030 pure
CY2015 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4500000 shares
CY2013 us-gaap Treasury Stock Value Acquired Cost Method
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433000 USD
CY2015 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
113000 USD
CY2013 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
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809000 USD
CY2013Q4 us-gaap Stockholders Equity
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40962000 USD
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46680000 USD
CY2014 anip Embedded Derivative Bifurcated Amount Reclassified To Stockholders Equity Net Of Deferred Tax Asset Liability
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20195000 USD
CY2014 anip Net Adjustments To Additional Paid In Capital Bond Hedge Acquired Warrant Issued Net Of Deferred Tax Asset Liability
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-2575000 USD
CY2014 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
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750000 USD
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819000 USD
CY2015 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
819000 USD
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0 USD
CY2015 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
0 USD
CY2014 us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
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784000 USD
CY2015 us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
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360000 USD
CY2015 us-gaap Interest Expense Debt
InterestExpenseDebt
11143000 USD
CY2014 us-gaap Interest Expense Debt
InterestExpenseDebt
811000 USD
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7088000 USD
CY2013Q2 us-gaap Business Combination Consideration Transferred1
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29795000 USD
CY2015Q4 us-gaap Inventory Raw Materials
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10192000 USD
CY2014Q4 us-gaap Inventory Raw Materials
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5056000 USD
CY2015Q4 us-gaap Retail Related Inventory Packaging And Other Supplies
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998000 USD
CY2014Q4 us-gaap Retail Related Inventory Packaging And Other Supplies
RetailRelatedInventoryPackagingAndOtherSupplies
794000 USD
CY2015Q4 us-gaap Inventory Work In Process
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456000 USD
CY2014Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
411000 USD
CY2015Q4 us-gaap Inventory Finished Goods
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1897000 USD
CY2014Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1368000 USD
CY2015Q4 us-gaap Inventory Gross
InventoryGross
13543000 USD
CY2014Q4 us-gaap Inventory Gross
InventoryGross
7629000 USD
CY2015Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
156000 USD
CY2014Q4 us-gaap Inventory Valuation Reserves
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111000 USD
CY2015Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
11581000 USD
CY2014Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
9017000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Gross
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76498000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
45999000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
10101000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
3932000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
7578000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
7578000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
7578000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
7578000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
7578000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
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28507000 USD
CY2013Q4 anip Intangible Asset Purchase Agreement Amount
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12500000 USD
CY2014Q1 anip Intangible Asset Purchase Agreement Payment
IntangibleAssetPurchaseAgreementPayment
4000000 USD
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0172 pure
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.550 pure
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due Current
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55000 USD
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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46000 USD
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
31000 USD
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
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0 USD
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
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0 USD
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
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0 USD
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due
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132000 USD
CY2015 us-gaap Lease And Rental Expense
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74000 USD
CY2014 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
70000 USD
CY2013 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
36000 USD
CY2013 anip Monitoring And Advisory Fee
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500000 USD
CY2013 anip Monitoring And Advisory Fee In Conjunction With Business Combination
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400000 USD
CY2014 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
2267000 USD
CY2013 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
414000 USD
CY2015 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
0 USD
CY2014 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
16726000 USD
CY2013 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
414000 USD
CY2015 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
0 USD
CY2014 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
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195000 USD
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9600000 USD
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3900000 USD
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5700000 USD
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0 USD

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