$CPIX
CUMBERLAND PHARMACEUTICALS INC

2013 Q4 Form 10-Q Financial Statement

#000108729413000017 Filed on November 06, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q4
Revenue $8.160M $6.529M $13.70M
YoY Change -40.42% -47.9% 5.1%
Cost Of Revenue $2.150M $1.031M $2.170M
YoY Change -0.92% 11.83% 11.28%
Gross Profit $6.010M $5.498M $11.52M
YoY Change -47.83% -52.65% 3.97%
Gross Profit Margin 73.65% 84.21% 84.11%
Selling, General & Admin $6.860M $5.369M $7.690M
YoY Change -10.79% -21.11% 2.95%
% of Gross Profit 114.14% 97.66% 66.75%
Research & Development $1.340M $1.441M $440.0K
YoY Change 204.55% -15.09% -75.0%
% of Gross Profit 22.3% 26.2% 3.82%
Depreciation & Amortization $380.0K $310.0K $240.0K
YoY Change 58.33% 40.91% 0.0%
% of Gross Profit 6.32% 5.64% 2.08%
Operating Expenses $8.480M $6.809M $8.270M
YoY Change 2.54% -19.91% -11.74%
Operating Profit -$2.472M -$1.515M $3.253M
YoY Change -175.99% -150.85% 90.09%
Interest Expense $30.00K $24.29K $30.00K
YoY Change 0.0% 41.02% -25.0%
% of Operating Profit 0.92%
Other Income/Expense, Net
YoY Change
Pretax Income -$2.440M -$1.519M $3.290M
YoY Change -174.16% -149.47% 88.0%
Income Tax -$930.0K -$686.2K $1.490M
% Of Pretax Income 45.29%
Net Earnings -$1.500M -$819.9K $1.806M
YoY Change -183.1% -143.86% 98.04%
Net Earnings / Revenue -18.39% -12.56% 13.18%
Basic Earnings Per Share -$0.08 -$0.04 $0.09
Diluted Earnings Per Share -$0.08 -$0.04 $0.09
COMMON SHARES
Basic Shares Outstanding 18.11M shares 18.23M shares
Diluted Shares Outstanding 18.23M shares

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $54.89M $65.17M $71.04M
YoY Change -22.73% -6.09% 0.62%
Cash & Equivalents $40.87M $46.01M $54.35M
Short-Term Investments $14.02M $19.16M $16.69M
Other Short-Term Assets $3.537M $3.466M $3.961M
YoY Change -10.7% -22.98% 4.24%
Inventory $5.723M $5.436M $6.218M
Prepaid Expenses
Receivables $4.530M $4.194M $6.017M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $68.68M $78.27M $87.23M
YoY Change -21.27% -9.83% -0.09%
LONG-TERM ASSETS
Property, Plant & Equipment $880.6K $975.0K $1.189M
YoY Change -25.93% -11.36% 6.22%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.346M $1.430M $645.4K
YoY Change 108.51% 104.28% 851.22%
Total Long-Term Assets $18.93M $13.64M $11.36M
YoY Change 66.65% 35.06% 38.38%
TOTAL ASSETS
Total Short-Term Assets $68.68M $78.27M $87.23M
Total Long-Term Assets $18.93M $13.64M $11.36M
Total Assets $87.61M $91.91M $98.59M
YoY Change -11.14% -5.15% 3.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.036M $2.272M $2.791M
YoY Change -27.04% -45.9% 84.37%
Accrued Expenses $5.510M $5.265M
YoY Change 4.66% 3.51%
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 $7.546M $5.412M $8.055M
YoY Change -6.33% -37.79% 22.05%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $4.900M $4.400M
YoY Change -100.0% 11.36% -10.2%
Other Long-Term Liabilities $776.1K $700.0K $611.9K
YoY Change 26.83% 16.67% 5.85%
Total Long-Term Liabilities $776.1K $5.600M $611.9K
YoY Change 26.83% 12.0% 5.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.546M $5.412M $8.055M
Total Long-Term Liabilities $776.1K $5.600M $611.9K
Total Liabilities $8.322M $10.98M $13.03M
YoY Change -36.12% -18.67% 2.71%
SHAREHOLDERS EQUITY
Retained Earnings $16.39M $17.89M $18.50M
YoY Change -11.38% 46.16%
Common Stock $63.07M $63.20M $67.20M
YoY Change -6.14%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $79.47M $81.10M $85.70M
YoY Change
Total Liabilities & Shareholders Equity $87.61M $91.91M $98.59M
YoY Change -11.14% -5.15% 3.22%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q4
OPERATING ACTIVITIES
Net Income -$1.500M -$819.9K $1.806M
YoY Change -183.1% -143.86% 98.04%
Depreciation, Depletion And Amortization $380.0K $310.0K $240.0K
YoY Change 58.33% 40.91% 0.0%
Cash From Operating Activities -$190.0K -$850.0K $1.990M
YoY Change -109.55% -144.74% 93.2%
INVESTING ACTIVITIES
Capital Expenditures -$4.870M -$790.0K -$630.0K
YoY Change 673.02% -34.71% 950.0%
Acquisitions
YoY Change
Other Investing Activities $5.100M $280.0K $1.820M
YoY Change 180.22% -212.0%
Cash From Investing Activities $240.0K -$520.0K $1.190M
YoY Change -79.83% -64.38% -2083.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -5.180M -2.280M 360.0K
YoY Change -1538.89% 19.37% -124.83%
NET CHANGE
Cash From Operating Activities -190.0K -850.0K 1.990M
Cash From Investing Activities 240.0K -520.0K 1.190M
Cash From Financing Activities -5.180M -2.280M 360.0K
Net Change In Cash -5.130M -3.650M 3.540M
YoY Change -244.92% 148.3% -837.5%
FREE CASH FLOW
Cash From Operating Activities -$190.0K -$850.0K $1.990M
Capital Expenditures -$4.870M -$790.0K -$630.0K
Free Cash Flow $4.680M -$60.00K $2.620M
YoY Change 78.63% -101.93% 140.37%

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us-gaap Stock Repurchased During Period Value
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3918436 USD
dei Entity Central Index Key
EntityCentralIndexKey
0001087294
CY2013Q3 us-gaap Stockholders Equity
StockholdersEquity
81097988 USD
CY2013Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
18105750 shares
us-gaap Tax Benefit From Stock Options Exercised1
TaxBenefitFromStockOptionsExercised1
49200000 USD
CY2013Q3 us-gaap Trading Securities Fair Value Disclosure
TradingSecuritiesFairValueDisclosure
19163442 USD
CY2012Q4 us-gaap Trading Securities Fair Value Disclosure
TradingSecuritiesFairValueDisclosure
16686136 USD
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-135296 USD
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
99286 USD
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>
CY2013Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2012Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
238026 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
231835 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19969051 shares
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19670741 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18420465 shares
CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18233407 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18420465 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19737216 shares
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19432715 shares
CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18233407 shares
cpix Increase Decrease In Current Operating Liabilities
IncreaseDecreaseInCurrentOperatingLiabilities
-2942455 USD
cpix Increase Decrease In Current Operating Liabilities
IncreaseDecreaseInCurrentOperatingLiabilities
4178708 USD
CY2013Q3 cpix Other Long Term Obligations Excluding Current Portion
OtherLongTermObligationsExcludingCurrentPortion
707062 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
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Period End Date
DocumentPeriodEndDate
2013-09-30
dei Document Type
DocumentType
10-Q
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
CUMBERLAND PHARMACEUTICALS INC

Files In Submission

Name View Source Status
0001087294-13-000017-index-headers.html Edgar Link pending
0001087294-13-000017-index.html Edgar Link pending
0001087294-13-000017.txt Edgar Link pending
0001087294-13-000017-xbrl.zip Edgar Link pending
cpix-20130930.xml Edgar Link completed
cpix-20130930.xsd Edgar Link pending
cpix-20130930_cal.xml Edgar Link unprocessable
cpix-20130930_def.xml Edgar Link unprocessable
cpix-20130930_lab.xml Edgar Link unprocessable
cpix-20130930_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
q32013-exhibit311.htm Edgar Link pending
q32013-exhibit312.htm Edgar Link pending
q32013-exhibit321.htm Edgar Link pending
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report.css Edgar Link pending
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