$ANIP
ANI PHARMACEUTICALS INC

2016 Q3 Form 10-Q Financial Statement

#000114420416131405 Filed on November 03, 2016

View on sec.gov

Income Statement

Concept 2016 Q3 2015 Q3
Revenue $38.53M $19.97M
YoY Change 92.9% 14.87%
Cost Of Revenue $16.67M $3.260M
YoY Change 411.32% 6.5%
Gross Profit $21.86M $16.71M
YoY Change 30.78% 16.66%
Gross Profit Margin 56.73% 83.68%
Selling, General & Admin $6.928M $5.399M
YoY Change 28.32% 33.08%
% of Gross Profit 31.7% 32.31%
Research & Development $1.041M $815.0K
YoY Change 27.73% -7.7%
% of Gross Profit 4.76% 4.88%
Depreciation & Amortization $5.966M $2.047M
YoY Change 191.45% 72.45%
% of Gross Profit 27.3% 12.25%
Operating Expenses $7.969M $6.214M
YoY Change 28.24% 25.79%
Operating Profit $7.921M $8.451M
YoY Change -6.27% 3.07%
Interest Expense -$2.856M -$2.766M
YoY Change 3.25% -27760.0%
% of Operating Profit -36.06% -32.73%
Other Income/Expense, Net -$21.00K -$28.00K
YoY Change -25.0% -134.15%
Pretax Income $5.044M $5.657M
YoY Change -10.84% -31.77%
Income Tax -$2.501M $1.098M
% Of Pretax Income -49.58% 19.41%
Net Earnings $2.543M $4.559M
YoY Change -44.22% -32.42%
Net Earnings / Revenue 6.6% 22.83%
Basic Earnings Per Share $0.22 $0.40
Diluted Earnings Per Share $0.22 $0.39
COMMON SHARES
Basic Shares Outstanding 11.47M shares 11.38M shares
Diluted Shares Outstanding 11.63M shares

Balance Sheet

Concept 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $16.20M $150.9M
YoY Change -89.26% 329.91%
Cash & Equivalents $16.16M $150.9M
Short-Term Investments
Other Short-Term Assets $2.700M $10.30M
YoY Change -73.79% 1616.67%
Inventory $28.30M $13.70M
Prepaid Expenses $1.985M
Receivables $47.50M $21.60M
Other Receivables $900.0K $1.000M
Total Short-Term Assets $95.50M $197.5M
YoY Change -51.65% 243.13%
LONG-TERM ASSETS
Property, Plant & Equipment $9.700M $5.833M
YoY Change 66.3% 15.6%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $23.40M $9.800M
YoY Change 138.78%
Total Long-Term Assets $223.9M $85.78M
YoY Change 161.02% 71.31%
TOTAL ASSETS
Total Short-Term Assets $95.50M $197.5M
Total Long-Term Assets $223.9M $85.78M
Total Assets $319.4M $283.3M
YoY Change 12.74% 163.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.700M $2.600M
YoY Change 80.77% -15.0%
Accrued Expenses $21.70M $2.221M
YoY Change 877.04% -42.88%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $30.50M $12.19M
YoY Change 150.21% 49.66%
LONG-TERM LIABILITIES
Long-Term Debt $118.8M $115.2M
YoY Change 3.13%
Other Long-Term Liabilities $1.300M
YoY Change
Total Long-Term Liabilities $120.1M $115.2M
YoY Change 4.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $30.50M $12.19M
Total Long-Term Liabilities $120.1M $115.2M
Total Liabilities $150.5M $127.4M
YoY Change 18.15% 1472.63%
SHAREHOLDERS EQUITY
Retained Earnings -$7.226M
YoY Change -82.26%
Common Stock $1.000K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00
YoY Change
Treasury Stock Shares 0.000 shares
Shareholders Equity $168.8M $155.9M
YoY Change
Total Liabilities & Shareholders Equity $319.4M $283.3M
YoY Change 12.75% 163.18%

Cashflow Statement

Concept 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income $2.543M $4.559M
YoY Change -44.22% -32.42%
Depreciation, Depletion And Amortization $5.966M $2.047M
YoY Change 191.45% 72.45%
Cash From Operating Activities $1.080M $10.23M
YoY Change -89.44% 145.91%
INVESTING ACTIVITIES
Capital Expenditures -$1.090M -$770.0K
YoY Change 41.56% 87.8%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$26.00M
YoY Change -100.0% 17.59%
Cash From Investing Activities -$1.090M -$26.77M
YoY Change -95.93% 18.82%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.140M 710.0K
YoY Change 60.56% 54.35%
NET CHANGE
Cash From Operating Activities 1.080M 10.23M
Cash From Investing Activities -1.090M -26.77M
Cash From Financing Activities 1.140M 710.0K
Net Change In Cash 1.130M -15.83M
YoY Change -107.14% -11.61%
FREE CASH FLOW
Cash From Operating Activities $1.080M $10.23M
Capital Expenditures -$1.090M -$770.0K
Free Cash Flow $2.170M $11.00M
YoY Change -80.27% 140.7%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Depreciation Depletion And Amortization
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anip Increase Decrease In Accrued Compensation Liabilities
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us-gaap Increase Decrease In Income Taxes
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anip Increase Decrease Accrued Medicaid Rebates
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us-gaap Increase Decrease In Other Operating Liabilities
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us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Lease And Rental Expense
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us-gaap Lease And Rental Expense
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us-gaap Fair Value Inputs Discount Rate
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0.15 pure
CY2016Q3 us-gaap Business Combination Contingent Consideration Liability
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0 USD
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CY2016Q3 us-gaap Valuation Allowances And Reserves Balance
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CY2015Q4 us-gaap Valuation Allowances And Reserves Balance
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us-gaap Use Of Estimates
UseOfEstimates
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt 0.25in"> <b><font style="FONT-SIZE: 10pt">Use of Estimates</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt 0.25in"> <font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt 0.25in"> <font style="FONT-SIZE: 10pt">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 used for, but not limited to, stock-based compensation, allowance for doubtful accounts, accruals for chargebacks, administrative fees and rebates, Medicaid 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, deferred taxes and valuation allowance, 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.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2016Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1666667 shares
CY2016Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1666667 shares
CY2015Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
19000 USD
CY2016Q3 us-gaap Inventory Gross
InventoryGross
28424000 USD
CY2015Q4 us-gaap Inventory Gross
InventoryGross
13543000 USD
CY2016Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
685000 USD
CY2015Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
456000 USD
CY2016Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
2835000 USD
CY2015Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
2799000 USD
us-gaap Interest Expense Debt
InterestExpenseDebt
8457000 USD
us-gaap Interest Expense Debt
InterestExpenseDebt
8343000 USD
CY2016Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.522 pure
CY2015Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
200000 USD
CY2015Q3 anip Class Of Warrant Or Right Number Of Securities Called By Warrants That Expired During Period Number
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsThatExpiredDuringPeriodNumber
100000 shares
CY2016Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
14851000 USD
CY2015Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
11581000 USD
CY2015Q3 us-gaap Depreciation
Depreciation
200000 USD
CY2016Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1365000 USD
CY2015Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1120000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4687000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2717000 USD
CY2016Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
214892000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
76498000 USD
CY2016Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
25943000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
10101000 USD
CY2016Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5700000 USD
CY2015Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1900000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
15800000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4300000 USD
CY2015Q3 anip Accrued Royalties Related To Asset Purchase
AccruedRoyaltiesRelatedToAssetPurchase
0 USD
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
200000 shares
CY2015Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4500000 shares
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.314 pure
CY2015Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.194 pure

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