$CPIX
CUMBERLAND PHARMACEUTICALS INC

2017 Q2 Form 10-Q Financial Statement

#000162828017008470 Filed on August 09, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $8.667M $7.415M
YoY Change 16.89% -16.78%
Cost Of Revenue $1.669M $1.155M
YoY Change 44.46% -6.61%
Gross Profit $6.998M $6.260M
YoY Change 11.8% -18.42%
Gross Profit Margin 80.74% 84.42%
Selling, General & Admin $7.008M $5.147M
YoY Change 36.17% -9.05%
% of Gross Profit 100.14% 82.22%
Research & Development $1.080M $678.8K
YoY Change 59.17% -18.03%
% of Gross Profit 15.44% 10.84%
Depreciation & Amortization $650.0K $590.0K
YoY Change 10.17% 1.72%
% of Gross Profit 9.29% 9.43%
Operating Expenses $8.088M $5.825M
YoY Change 38.85% -10.2%
Operating Profit -$1.681M -$105.3K
YoY Change 1496.13% -115.63%
Interest Expense $30.03K $28.25K
YoY Change 6.31% 52.78%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$1.641M -$102.1K
YoY Change 1508.08% -114.31%
Income Tax $3.536M -$41.14K
% Of Pretax Income
Net Earnings -$5.161M -$48.04K
YoY Change 10641.43% -111.79%
Net Earnings / Revenue -59.54% -0.65%
Basic Earnings Per Share -$0.32 $0.00
Diluted Earnings Per Share -$0.32 $0.00
COMMON SHARES
Basic Shares Outstanding 16.01M shares 16.25M shares
Diluted Shares Outstanding 16.01M shares 16.25M shares

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $48.97M $50.40M
YoY Change -2.84% -5.04%
Cash & Equivalents $34.62M $35.84M
Short-Term Investments $14.36M $14.57M
Other Short-Term Assets $2.659M $4.117M
YoY Change -35.4% -8.91%
Inventory $5.554M $4.922M
Prepaid Expenses
Receivables $6.107M $4.551M
Other Receivables $0.00 $0.00
Total Short-Term Assets $63.29M $63.99M
YoY Change -1.09% -6.17%
LONG-TERM ASSETS
Property, Plant & Equipment $495.3K $505.7K
YoY Change -2.04% -11.09%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.202M $2.510M
YoY Change -12.26% 5.15%
Total Long-Term Assets $24.51M $23.90M
YoY Change 2.56% -3.31%
TOTAL ASSETS
Total Short-Term Assets $63.29M $63.99M
Total Long-Term Assets $24.51M $23.90M
Total Assets $87.80M $87.89M
YoY Change -0.1% -5.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.412M $3.667M
YoY Change 74.82% -10.77%
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 $12.98M $8.895M
YoY Change 45.93% -22.97%
LONG-TERM LIABILITIES
Long-Term Debt $6.700M $3.500M
YoY Change 91.43% 105.88%
Other Long-Term Liabilities $1.600M $1.100M
YoY Change 45.45% 10.0%
Total Long-Term Liabilities $8.300M $4.600M
YoY Change 80.43% 70.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.98M $8.895M
Total Long-Term Liabilities $8.300M $4.600M
Total Liabilities $21.31M $13.51M
YoY Change 57.68% -4.93%
SHAREHOLDERS EQUITY
Retained Earnings $13.25M $19.25M
YoY Change -31.15% -0.11%
Common Stock $53.40M $55.22M
YoY Change -3.29% -7.14%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $66.66M $74.47M
YoY Change
Total Liabilities & Shareholders Equity $87.80M $87.89M
YoY Change -0.1% -5.41%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income -$5.161M -$48.04K
YoY Change 10641.43% -111.79%
Depreciation, Depletion And Amortization $650.0K $590.0K
YoY Change 10.17% 1.72%
Cash From Operating Activities -$2.530M -$1.140M
YoY Change 121.93% -155.88%
INVESTING ACTIVITIES
Capital Expenditures -$320.0K -$450.0K
YoY Change -28.89% -28.57%
Acquisitions
YoY Change
Other Investing Activities $1.130M $310.0K
YoY Change 264.52% -224.0%
Cash From Investing Activities $820.0K -$150.0K
YoY Change -646.67% -82.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.360M 690.0K
YoY Change 97.1% -154.76%
NET CHANGE
Cash From Operating Activities -2.530M -1.140M
Cash From Investing Activities 820.0K -150.0K
Cash From Financing Activities 1.360M 690.0K
Net Change In Cash -350.0K -600.0K
YoY Change -41.67% 500.0%
FREE CASH FLOW
Cash From Operating Activities -$2.530M -$1.140M
Capital Expenditures -$320.0K -$450.0K
Free Cash Flow -$2.210M -$690.0K
YoY Change 220.29% -125.84%

Facts In Submission

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us-gaap Sales Revenue Net
SalesRevenueNet
18303882 USD
CY2016Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
3272279 USD
CY2011Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
10000000.0 USD
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
7414835 USD
us-gaap Sales Revenue Net
SalesRevenueNet
15152367 USD
CY2017Q2 us-gaap Sales Revenue Net
SalesRevenueNet
8667127 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
6971241 USD
CY2017Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
4654933 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
9947953 USD
CY2012Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
10000000.0 USD
CY2013Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
10000000.0 USD
CY2015Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
10000000.0 USD
CY2016Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
10000000.0 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
1790671 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
73248199 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
66656650 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
73120819 USD
CY2017Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
66493556 USD
CY2016Q4 us-gaap Trading Securities
TradingSecurities
15622111 USD
CY2017Q2 us-gaap Trading Securities
TradingSecurities
14356326 USD
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
51213 USD
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
18706 USD
CY2016Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2017Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16247028 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16293744 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16011758 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16026935 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16247028 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16293744 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16011758 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16026935 shares
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;padding-top:8px;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-bottom:8px;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In preparing the condensed consolidated financial statements in conformity with U.S. GAAP, 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 results could differ from those estimates under different assumptions and conditions. The Company's most significant estimates include: (1) its allowances for chargebacks and accruals for rebates and product returns, (2) the allowances for obsolescent or unmarketable inventory and (3) the projection of future taxable income for the realization of deferred tax assets.</font></div></div>

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