$CPIX
CUMBERLAND PHARMACEUTICALS INC

2013 Q2 Form 10-Q Financial Statement

#000108729413000009 Filed on August 09, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $7.081M $12.37M
YoY Change -42.74% -14.06%
Cost Of Revenue $1.155M $1.103M
YoY Change 4.7% -13.83%
Gross Profit $5.926M $11.26M
YoY Change -47.39% -14.08%
Gross Profit Margin 83.69% 91.08%
Selling, General & Admin $5.397M $7.639M
YoY Change -29.35% -7.96%
% of Gross Profit 91.07% 67.82%
Research & Development $1.387M $1.553M
YoY Change -10.71% 50.81%
% of Gross Profit 23.4% 13.79%
Depreciation & Amortization $320.0K $220.0K
YoY Change 45.45% -18.52%
% of Gross Profit 5.4% 1.95%
Operating Expenses $6.784M $9.193M
YoY Change -26.2% -3.03%
Operating Profit -$1.141M $1.940M
YoY Change -158.79% -46.59%
Interest Expense $20.70K $16.72K
YoY Change 23.8% -155.73%
% of Operating Profit 0.86%
Other Income/Expense, Net
YoY Change
Pretax Income -$1.112M $1.999M
YoY Change -155.63% -44.46%
Income Tax -$463.4K $263.0K
% Of Pretax Income 13.16%
Net Earnings -$639.0K $1.744M
YoY Change -136.63% -19.9%
Net Earnings / Revenue -9.02% 14.1%
Basic Earnings Per Share -$0.03 $0.09
Diluted Earnings Per Share -$0.03 $0.09
COMMON SHARES
Basic Shares Outstanding 18.41M shares 19.77M shares
Diluted Shares Outstanding 18.41M shares 20.00M shares

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $69.18M $70.50M
YoY Change -1.87% 1.0%
Cash & Equivalents $49.66M $52.27M
Short-Term Investments $19.51M $18.20M
Other Short-Term Assets $3.198M $3.400M
YoY Change -5.95% 54.55%
Inventory $6.094M $7.300M
Prepaid Expenses
Receivables $3.971M $5.000M
Other Receivables $0.00 $0.00
Total Short-Term Assets $82.44M $86.30M
YoY Change -4.47% 2.37%
LONG-TERM ASSETS
Property, Plant & Equipment $1.056M $1.100M
YoY Change -4.03% -8.33%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.320M $700.0K
YoY Change 88.51% -63.16%
Total Long-Term Assets $13.02M $9.100M
YoY Change 43.13% -11.65%
TOTAL ASSETS
Total Short-Term Assets $82.44M $86.30M
Total Long-Term Assets $13.02M $9.100M
Total Assets $95.47M $95.40M
YoY Change 0.07% 0.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.094M $2.900M
YoY Change 6.69% 26.09%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.095M $7.100M
YoY Change -14.16% -33.64%
LONG-TERM LIABILITIES
Long-Term Debt $5.900M $4.400M
YoY Change 34.09% 144.44%
Other Long-Term Liabilities $600.0K $700.0K
YoY Change -14.29% 16.67%
Total Long-Term Liabilities $6.500M $5.100M
YoY Change 27.45% 112.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.095M $7.100M
Total Long-Term Liabilities $6.500M $5.100M
Total Liabilities $12.59M $12.10M
YoY Change 4.07% -7.63%
SHAREHOLDERS EQUITY
Retained Earnings $18.71M
YoY Change
Common Stock $64.31M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $83.03M $83.30M
YoY Change
Total Liabilities & Shareholders Equity $95.47M $95.40M
YoY Change 0.07% 0.85%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income -$639.0K $1.744M
YoY Change -136.63% -19.9%
Depreciation, Depletion And Amortization $320.0K $220.0K
YoY Change 45.45% -18.52%
Cash From Operating Activities $120.0K $640.0K
YoY Change -81.25% -83.84%
INVESTING ACTIVITIES
Capital Expenditures -$880.0K -$490.0K
YoY Change 79.59% 390.0%
Acquisitions
YoY Change
Other Investing Activities -$610.0K -$2.220M
YoY Change -72.52%
Cash From Investing Activities -$1.480M -$2.700M
YoY Change -45.19% 2600.0%
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 -1.300M
YoY Change -86.15% -13100.0%
NET CHANGE
Cash From Operating Activities 120.0K 640.0K
Cash From Investing Activities -1.480M -2.700M
Cash From Financing Activities -180.0K -1.300M
Net Change In Cash -1.540M -3.360M
YoY Change -54.17% -186.82%
FREE CASH FLOW
Cash From Operating Activities $120.0K $640.0K
Capital Expenditures -$880.0K -$490.0K
Free Cash Flow $1.000M $1.130M
YoY Change -11.5% -72.17%

Facts In Submission

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us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;text-decoration:underline;">Use of Estimates</font></div><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In preparing the condensed consolidated financial statements in conformity with U.S. generally accepted accounting principles, management must make decisions that impact the reported amounts and the related disclosures. Such decisions include the selection of the appropriate accounting principles to be applied and the assumptions on which to base accounting estimates. In reaching such decisions, management applies judgments based on its understanding and analysis of the relevant circumstances, historical experience, and other available information. Actual amounts could differ from those estimated at the time the condensed consolidated financial statements are prepared. The Company's most significant estimates include: (1) its allowances for chargebacks and accruals for rebates and product returns and (2) the allowances for obsolescent or unmarketable inventory. </font></div></div>
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
175800 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
227663 shares
CY2013Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2012Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
225638 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20117246 shares
CY2012Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19996805 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18756691 shares
CY2013Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18405522 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18580891 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19889583 shares
CY2012Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19771167 shares
CY2013Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18405522 shares
cpix Increase Decrease In Current Operating Liabilities
IncreaseDecreaseInCurrentOperatingLiabilities
-1707560 USD
cpix Increase Decrease In Current Operating Liabilities
IncreaseDecreaseInCurrentOperatingLiabilities
1362385 USD
CY2013Q2 cpix Other Long Term Obligations Excluding Current Portion
OtherLongTermObligationsExcludingCurrentPortion
637671 USD
CY2012Q4 cpix Other Long Term Obligations Excluding Current Portion
OtherLongTermObligationsExcludingCurrentPortion
611933 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Period End Date
DocumentPeriodEndDate
2013-06-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001087294
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
CUMBERLAND PHARMACEUTICALS INC

Files In Submission

Name View Source Status
0001087294-13-000009-index-headers.html Edgar Link pending
0001087294-13-000009-index.html Edgar Link pending
0001087294-13-000009.txt Edgar Link pending
0001087294-13-000009-xbrl.zip Edgar Link pending
cpix-20130630.xml Edgar Link completed
cpix-20130630.xsd Edgar Link pending
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cpix2013630-10q.htm Edgar Link pending
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