2018 Q4 Form 10-K Financial Statement

#000114420419010541 Filed on February 27, 2019

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2018 Q2
Revenue $57.12M $50.70M $47.27M
YoY Change 20.8% 5.27% 5.59%
Cost Of Revenue $20.13M $15.61M $16.59M
YoY Change -1.56% -25.97% -21.44%
Gross Profit $36.99M $35.10M $30.68M
YoY Change 37.82% 29.58% 29.75%
Gross Profit Margin 64.76% 69.22% 64.9%
Selling, General & Admin $13.38M $11.77M $9.962M
YoY Change 50.51% 46.71% 34.99%
% of Gross Profit 36.17% 33.53% 32.48%
Research & Development $3.480M $4.667M $5.137M
YoY Change 31.32% 77.18% 137.06%
% of Gross Profit 9.41% 13.3% 16.75%
Depreciation & Amortization $8.680M $8.548M $8.313M
YoY Change 23.65% 20.41% 17.07%
% of Gross Profit 23.47% 24.35% 27.1%
Operating Expenses $25.55M $16.44M $15.10M
YoY Change 37.66% 54.24% 58.15%
Operating Profit $11.45M $10.11M $7.263M
YoY Change 55.1% 8.39% 3.85%
Interest Expense -$3.630M -$3.768M -$3.730M
YoY Change 19.8% 23.46% 23.31%
% of Operating Profit -31.72% -37.26% -51.36%
Other Income/Expense, Net -$480.0K $20.00K -$30.00K
YoY Change -78.95% 57.89%
Pretax Income $7.340M $6.366M $3.503M
YoY Change 68.74% -0.13% -11.32%
Income Tax -$1.910M -$1.329M -$726.0K
% Of Pretax Income -26.02% -20.88% -20.73%
Net Earnings $5.430M $5.037M $2.777M
YoY Change -156.39% 6.72% 3.58%
Net Earnings / Revenue 9.51% 9.93% 5.88%
Basic Earnings Per Share $0.46 $0.43 $0.24
Diluted Earnings Per Share $0.46 $0.42 $0.23
COMMON SHARES
Basic Shares Outstanding 11.71M shares 11.68M shares
Diluted Shares Outstanding 11.80M shares 11.79M shares

Balance Sheet

Concept 2018 Q4 2018 Q3 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $43.00M $44.10M $55.00M
YoY Change 38.26% 145.0% 554.76%
Cash & Equivalents $43.01M $44.14M $54.99M
Short-Term Investments
Other Short-Term Assets $4.500M $5.000M $1.800M
YoY Change 60.71% 4.17% -33.33%
Inventory $40.50M $40.01M $37.76M
Prepaid Expenses $4.524M $5.004M $1.768M
Receivables $64.84M $67.65M $56.12M
Other Receivables $0.00 $0.00 $1.700M
Total Short-Term Assets $152.9M $156.8M $152.4M
YoY Change 16.16% 24.84% 35.01%
LONG-TERM ASSETS
Property, Plant & Equipment $38.09M $37.42M $22.84M
YoY Change 86.69% 115.05% 52.63%
Goodwill $3.580M $2.342M $1.838M
YoY Change 94.78% 0.0%
Intangibles $201.6M $209.5M $217.5M
YoY Change -12.27% 10.61%
Long-Term Investments
YoY Change
Other Assets $1.468M $1.412M $1.049M
YoY Change 77.08% -96.06% -96.81%
Total Long-Term Assets $277.7M $282.7M $271.8M
YoY Change -1.0% 15.41% 10.33%
TOTAL ASSETS
Total Short-Term Assets $152.9M $156.8M $152.4M
Total Long-Term Assets $277.7M $282.7M $271.8M
Total Assets $430.6M $439.4M $424.2M
YoY Change 4.48% 18.61% 18.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.884M $7.257M $7.949M
YoY Change 144.74% 25.12% 152.11%
Accrued Expenses $1.707M $2.818M $1.863M
YoY Change 8.66% -87.31% 19.04%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.256M $5.692M $5.217M
YoY Change -2.89%
Total Short-Term Liabilities $165.5M $46.90M $39.68M
YoY Change 322.02% 28.85% 40.24%
LONG-TERM LIABILITIES
Long-Term Debt $67.30M $65.95M $67.26M
YoY Change -3.79% -56.41% -56.44%
Other Long-Term Liabilities $496.0K
YoY Change
Total Long-Term Liabilities $67.79M $65.95M $67.26M
YoY Change -3.08% -56.41% -56.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $165.5M $46.90M $39.68M
Total Long-Term Liabilities $67.79M $65.95M $67.26M
Total Liabilities $233.3M $247.0M $239.1M
YoY Change -1.7% 31.58% 30.87%
SHAREHOLDERS EQUITY
Retained Earnings $11.49M $6.058M $1.021M
YoY Change -386.77% 13.07%
Common Stock $1.000K $1.000K $1.000K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $197.3M $192.5M $185.1M
YoY Change
Total Liabilities & Shareholders Equity $430.6M $439.4M $424.2M
YoY Change 4.48% 18.61% 18.08%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2018 Q2
OPERATING ACTIVITIES
Net Income $5.430M $5.037M $2.777M
YoY Change -156.39% 6.72% 3.58%
Depreciation, Depletion And Amortization $8.680M $8.548M $8.313M
YoY Change 23.65% 20.41% 17.07%
Cash From Operating Activities $27.23M $8.320M $8.590M
YoY Change 72.23% -51.29%
INVESTING ACTIVITIES
Capital Expenditures -$1.000M -$1.380M -$1.080M
YoY Change -71.01% -44.35% -53.04%
Acquisitions
YoY Change
Other Investing Activities $600.0K -$17.07M -$5.170M
YoY Change -101.29%
Cash From Investing Activities -$410.0K -$18.44M -$6.250M
YoY Change -99.18% 643.55% 170.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -27.95M -730.0K 690.0K
YoY Change -158.93% -85.22% -531.25%
NET CHANGE
Cash From Operating Activities 27.23M 8.320M 8.590M
Cash From Investing Activities -410.0K -18.44M -6.250M
Cash From Financing Activities -27.95M -730.0K 690.0K
Net Change In Cash -1.130M -10.85M 3.030M
YoY Change -108.61% -212.32% -222.67%
FREE CASH FLOW
Cash From Operating Activities $27.23M $8.320M $8.590M
Capital Expenditures -$1.000M -$1.380M -$1.080M
Free Cash Flow $28.23M $9.700M $9.670M
YoY Change 46.57% -50.41% 320.43%

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27928000
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DepreciationDepletionAndAmortization
22343000
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DepreciationDepletionAndAmortization
33742000
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7666000
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7281000
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8465000
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4743000
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-5356000
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1938000
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379000
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17000
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647000
CY2018 us-gaap Increase Decrease In Prepaid Expense
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1142000
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3000
CY2016 us-gaap Increase Decrease In Accounts Payable
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1076000
CY2018 us-gaap Increase Decrease In Accounts Payable
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3466000
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6269000
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6184000
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1260000
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1044000
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2518000
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3108000
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4278000
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1319000
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1383000
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968000
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4566000
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2737000
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294000
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1572000
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0
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353000
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1570000
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2978000
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0
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2500000
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0
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259000
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122000
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659000
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3783000
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-122317000
CY2018 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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11879000
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32367000
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154684000
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36150000
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48029000
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5002000
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4078000
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17786000
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9537000
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6397000
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0
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3882000
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0
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485000
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247000
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8000
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46.05
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63000
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
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CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
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50000
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49.51
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28000
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44.49
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0
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85000
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ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
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CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
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3934000
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<div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Organization and Business</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; margin-right: 0px; background: none;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-indent: 0.25in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">ANI Pharmaceuticals, Inc. and its consolidated subsidiaries, ANIP Acquisition Company and ANI Pharmaceuticals Canada Inc. (together, &#8220;ANI,&#8221; the &#8220;Company,&#8221; &#8220;we,&#8221; &#8220;us,&#8221; or &#8220;our&#8221;) 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. ANI was organized as a Delaware corporation in April 2001. At our three facilities, of which two are located in Baudette, Minnesota and one is located in Oakville, Ontario, we manufacture 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. We also perform contract manufacturing for other pharmaceutical companies.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-indent: 0.31in; margin-right: 0px; background: none;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-indent: 0.25in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">On June 19, 2013, BioSante Pharmaceuticals, Inc. (&#8220;BioSante&#8221;) acquired ANIP Acquisition Company (&#8220;ANIP&#8221;) in an all-stock, tax-free reorganization (the &#8220;Merger&#8221;), in which ANIP became a wholly-owned subsidiary of BioSante. BioSante was renamed ANI Pharmaceuticals, Inc. The Merger was accounted for as a reverse acquisition pursuant to which ANIP was considered the acquiring entity for accounting purposes.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-indent: 0.25in; margin-right: 0px; background: none;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-indent: 0.31in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">On August 6, 2018, our subsidiary, ANI Pharmaceuticals Canada Inc. 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The accompanying consolidated financial statements have been prepared assuming that we will continue as a going concern, which contemplates continuity of operations, realization of assets, and satisfaction of liabilities in the ordinary course of business. The propriety of using the going-concern basis is dependent upon, among other things, the achievement of future profitable operations, the ability to generate sufficient cash from operations, and potential other funding sources, including cash on hand, to meet our obligations as they become due. We believe the going-concern basis is appropriate for the accompanying consolidated financial statements based on our current operating plan and business strategy for the 12 months following the issuance of this report.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2018 us-gaap Use Of Estimates
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CY2018 us-gaap Concentration Risk Credit Risk
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CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0
CY2018 anip Effective Income Tax Rate Reconciliation Nondeductible Expense Foreign Expenses
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseForeignExpenses
0
CY2017 anip Effective Income Tax Rate Reconciliation Nondeductible Expense Foreign Expenses
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseForeignExpenses
0
CY2016 anip Effective Income Tax Rate Reconciliation Nondeductible Expense Foreign Expenses
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseForeignExpenses
0.233
CY2018 us-gaap Effective Income Tax Rate Reconciliation Deductions Qualified Production Activities
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0
CY2016 anip Effective Income Tax Rate Reconciliation Share Based Compensation Cost With Windfall Tax Benefit Percent
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0
CY2018 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0
CY2017 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.043
CY2016 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.014
CY2018 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.216
CY2017 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
1.066
CY2016 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.547
CY2018Q1 us-gaap Earnings Per Share Basic
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CY2018Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2018Q3 us-gaap Earnings Per Share Basic
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CY2018Q4 us-gaap Earnings Per Share Basic
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0.46
CY2018Q1 us-gaap Earnings Per Share Diluted
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0.19
CY2018Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.23
CY2018Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.42
CY2018Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.46
CY2017Q1 us-gaap Earnings Per Share Basic
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0.10
CY2017Q2 us-gaap Earnings Per Share Basic
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0.23
CY2017Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.41
CY2017Q4 us-gaap Earnings Per Share Basic
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CY2017Q1 us-gaap Earnings Per Share Diluted
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0.10
CY2018Q4 us-gaap Deferred Tax Assets Inventory
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1228000
CY2017Q4 us-gaap Deferred Tax Assets Inventory
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857000
CY2018Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
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9393000
CY2017Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
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6355000
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DeferredTaxAssetsOperatingLossCarryforwards
5604000
CY2017Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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3029000
CY2017Q2 us-gaap Earnings Per Share Diluted
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0.23
CY2017Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.40
CY2017Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.83
CY2018Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
7748000
CY2017Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
5254000
CY2018Q4 us-gaap Deferred Tax Assets Hedging Transactions
DeferredTaxAssetsHedgingTransactions
3019000
CY2017Q4 us-gaap Deferred Tax Assets Hedging Transactions
DeferredTaxAssetsHedgingTransactions
5617000
CY2018Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Returns And Allowances
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsReturnsAndAllowances
7132000
CY2017Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Returns And Allowances
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsReturnsAndAllowances
4927000
CY2018Q4 us-gaap Deferred Tax Assets Other
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4682000
CY2017Q4 us-gaap Deferred Tax Assets Other
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3030000
CY2018Q4 us-gaap Deferred Tax Assets Gross
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38806000
CY2017Q4 us-gaap Deferred Tax Assets Gross
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29069000
CY2018Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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4437000
CY2017Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
1110000
CY2018Q4 anip Deferred Tax Liabilities Debt Discount
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1316000
CY2017Q4 anip Deferred Tax Liabilities Debt Discount
DeferredTaxLiabilitiesDebtDiscount
3256000
CY2018Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
11000
CY2017Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
11000
CY2018Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
2813000
CY2017Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
1699000
CY2018Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
8577000
CY2017Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
6076000
CY2018Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
2265000
CY2017Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
326000
CY2018Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
27964000
CY2017Q4 us-gaap Deferred Tax Assets Liabilities Net
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22667000
CY2018 us-gaap Operating Loss Carryforwards Limitations On Use
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approximately $0.8 million per year.
CY2017 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
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13400000
CY2018 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2017 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2018 anip Acquired Finitelived Intangible Asset Amortization Description
AcquiredFinitelivedIntangibleAssetAmortizationDescription
we are amortizing 80% of the value of the intangible assets over the first five years of useful lives of the assets and amortizing the remaining 20% of the value of the intangible assets over the second five years of useful lives of the assets.
CY2018Q4 us-gaap Debt Instrument Repurchase Amount
DebtInstrumentRepurchaseAmount
25000000
CY2016Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
0
CY2018 us-gaap Goodwill Period Increase Decrease
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600000
CY2016Q4 us-gaap Stockholders Equity
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169648000
CY2018 us-gaap Business Acquisitions Pro Forma Revenue
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208213000
CY2017 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
188758000
CY2018 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
13287000
CY2017 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-3102000
CY2018Q4 us-gaap Debt Instrument Maturity Date
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2019-12-01
CY2018Q4 us-gaap Operating Loss Carryforwards
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12100000
CY2016Q4 us-gaap Goodwill
Goodwill
1838000
CY2018 us-gaap Gain Loss On Repurchase Of Debt Instrument
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-468000
CY2017 us-gaap Gain Loss On Repurchase Of Debt Instrument
GainLossOnRepurchaseOfDebtInstrument
0
CY2016 us-gaap Gain Loss On Repurchase Of Debt Instrument
GainLossOnRepurchaseOfDebtInstrument
0
CY2018 us-gaap Derivatives Methods Of Accounting Hedging Derivatives
DerivativesMethodsOfAccountingHedgingDerivatives
<div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Hedge Accounting </div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-indent: 0.25in; margin-right: 0px; background: none;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-indent: 0.25in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">As of January 1, 2018, we adopted guidance intended to simplify hedge accounting by better aligning how an entity&#8217;s risk management activities and hedging relationships are presented in its financial statements. The guidance also simplified the application of hedge accounting guidance in certain situations. The adoption of this guidance did not have a material impact on our consolidated financial statements. However, the adoption of this guidance did impact how we accounted for the interest rate swaps we entered into in April 2018 and December 2018. See Note 4 for further details regarding the interest rate swap.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; margin-right: 0px; background: none;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-indent: 0.25in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">We use derivative financial instruments to hedge our exposure to interest rate risks. All derivative financial instruments are recognized as either assets or liabilities at fair value on the consolidated balance sheet and are classified as current or long-term based on the scheduled maturity of the instrument.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin: 0px 0px 0px 0.25in; background: none;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-indent: 0.25in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">When we enter into a hedge arrangement and intend to apply hedge accounting, we formally document the hedge relationship and designate the instrument for financial reporting purposes as a fair value hedge, a cash flow hedge, or a net investment hedge. When we determine that a derivative financial instrument qualifies as a cash flow hedge and is effective, the changes in fair value of the instrument are recorded in accumulated other comprehensive income/(loss), net of tax in our consolidated balance sheets and will be reclassified to earnings when the hedged item affects earnings.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2018 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
1742000
CY2017 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
0
CY2018 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
659000
CY2018 anip Examination By Taxing Jurisdictions Term
ExaminationByTaxingJurisdictionsTerm
P4Y
CY2018 anip Net Working Capital Adjustment
NetWorkingCapitalAdjustment
600000
CY2018 anip Adjustments To Additional Paid In Capital Repurchase Of Convertible Notes And Unwinding Of Call Option Overlay Net
AdjustmentsToAdditionalPaidInCapitalRepurchaseOfConvertibleNotesAndUnwindingOfCallOptionOverlayNet
1700000
CY2018Q4 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.078
CY2017Q4 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.079
CY2018Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
711000
CY2017Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
0
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0

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