2011 Form 10-K Financial Statement

#000110465912021373 Filed on March 27, 2012

View on sec.gov

Income Statement

Concept 2011 2010 Q4 2010
Revenue $15.69M $2.200M $14.56M
YoY Change 7.74% -48.84% -2.96%
Cost Of Revenue $16.74M $2.100M $12.28M
YoY Change 36.36% -40.0% -0.2%
Gross Profit -$1.050M $100.0K $2.286M
YoY Change -145.93% -87.5% -15.49%
Gross Profit Margin -6.69% 4.55% 15.7%
Selling, General & Admin $20.16M $2.400M $6.367M
YoY Change 216.62% 118.18% 26.83%
% of Gross Profit 2400.0% 278.52%
Research & Development $14.87M $3.700M $18.63M
YoY Change -20.16% -50.67% -28.99%
% of Gross Profit 3700.0% 814.87%
Depreciation & Amortization $4.314M $1.000M $4.071M
YoY Change 5.97% -1.96% -1.81%
% of Gross Profit 1000.0% 178.08%
Operating Expenses $54.79M $6.100M $37.27M
YoY Change 47.0% -29.07% -14.43%
Operating Profit -$39.10M -$6.000M -$22.71M
YoY Change 72.18% -23.08% -20.45%
Interest Expense $4.780M -$1.300M $3.959M
YoY Change 20.74% 85.71% 129.77%
% of Operating Profit
Other Income/Expense, Net -$4.227M $500.0K -$4.440M
YoY Change -4.8% -200.0% 40.55%
Pretax Income -$43.33M -$7.000M -$27.10M
YoY Change 59.88% -22.22% -14.51%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$43.33M -$7.000M -$27.15M
YoY Change 59.59% -22.22% -14.38%
Net Earnings / Revenue -276.17% -318.18% -186.44%
Basic Earnings Per Share
Diluted Earnings Per Share -$2.517M -$407.0K -$1.576M
COMMON SHARES
Basic Shares Outstanding 16.44M shares 574.0K shares
Diluted Shares Outstanding 16.44M shares 574.1K shares

Balance Sheet

Concept 2011 2010 Q4 2010
SHORT-TERM ASSETS
Cash & Short-Term Investments $76.20M $26.10M $26.10M
YoY Change 191.95% 267.61%
Cash & Equivalents $46.20M $26.13M $26.10M
Short-Term Investments $30.00M $0.00 $0.00
Other Short-Term Assets $3.100M $2.100M $2.100M
YoY Change 47.62% -8.7%
Inventory $1.200M $1.605M $1.600M
Prepaid Expenses
Receivables $2.100M $1.191M $1.200M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $82.60M $31.06M $31.10M
YoY Change 165.59% 148.8%
LONG-TERM ASSETS
Property, Plant & Equipment $25.10M $23.95M $24.00M
YoY Change 4.58% 22.45%
Goodwill
YoY Change
Intangibles $8.912M
YoY Change
Long-Term Investments
YoY Change
Other Assets $500.0K $2.645M $2.600M
YoY Change -80.77% 271.43%
Total Long-Term Assets $30.90M $35.51M $35.50M
YoY Change -12.96% 12.7%
TOTAL ASSETS
Total Short-Term Assets $82.60M $31.06M $31.10M
Total Long-Term Assets $30.90M $35.51M $35.50M
Total Assets $113.5M $66.56M $66.60M
YoY Change 70.42% 51.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.400M $4.315M $4.300M
YoY Change -20.93% -38.57%
Accrued Expenses $2.800M $4.983M $600.0K
YoY Change 366.67% 20.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $8.300M $3.182M $5.900M
YoY Change 40.68% 78.79%
Total Short-Term Liabilities $31.90M $16.32M $16.30M
YoY Change 95.71% 13.19%
LONG-TERM LIABILITIES
Long-Term Debt $20.10M $21.87M $74.70M
YoY Change -73.09% 189.53%
Other Long-Term Liabilities $13.20M $3.783M $24.00M
YoY Change -45.0% -10.11%
Total Long-Term Liabilities $33.30M $25.65M $98.70M
YoY Change -66.26% 88.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $31.90M $16.32M $16.30M
Total Long-Term Liabilities $33.30M $25.65M $98.70M
Total Liabilities $65.20M $114.9M $114.9M
YoY Change -43.26% 71.75%
SHAREHOLDERS EQUITY
Retained Earnings -$136.9M
YoY Change
Common Stock $1.000K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.000K
YoY Change
Treasury Stock Shares 1.065K shares
Shareholders Equity $48.30M -$48.38M -$48.40M
YoY Change
Total Liabilities & Shareholders Equity $113.5M $66.56M $66.60M
YoY Change 70.42% 51.36%

Cashflow Statement

Concept 2011 2010 Q4 2010
OPERATING ACTIVITIES
Net Income -$43.33M -$7.000M -$27.15M
YoY Change 59.59% -22.22% -14.38%
Depreciation, Depletion And Amortization $4.314M $1.000M $4.071M
YoY Change 5.97% -1.96% -1.81%
Cash From Operating Activities -$31.00M -$5.840M -$24.88M
YoY Change 24.6% -795.24% 19.39%
INVESTING ACTIVITIES
Capital Expenditures $6.167M -$2.950M $6.770M
YoY Change -8.91% 637.5% 22.89%
Acquisitions
YoY Change
Other Investing Activities -$29.96M $0.00 $0.00
YoY Change
Cash From Investing Activities -$36.12M -$2.950M -$6.770M
YoY Change 433.53% 637.5% 22.87%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $49.01M $2.000K
YoY Change 2450200.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 87.16M 21.07M 50.71M
YoY Change 71.88% 844.84% 141.02%
NET CHANGE
Cash From Operating Activities -31.00M -5.840M -24.88M
Cash From Investing Activities -36.12M -2.950M -6.770M
Cash From Financing Activities 87.16M 21.07M 50.71M
Net Change In Cash 20.04M 12.28M 19.06M
YoY Change 5.14% 359.93% -458.95%
FREE CASH FLOW
Cash From Operating Activities -$31.00M -$5.840M -$24.88M
Capital Expenditures $6.167M -$2.950M $6.770M
Free Cash Flow -$37.17M -$2.890M -$31.65M
YoY Change 17.43% -333.06% 20.12%

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4146000 USD
CY2011 pcrx Amortization Of Other Assets And Unfavorable Lease Obligation
AmortizationOfOtherAssetsAndUnfavorableLeaseObligation
85000 USD
CY2010 pcrx Amortization Of Other Assets And Unfavorable Lease Obligation
AmortizationOfOtherAssetsAndUnfavorableLeaseObligation
-35000 USD
CY2010 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-2328000 USD
CY2009 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
3793000 USD
CY2011 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
27000 USD
CY2010 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
1782000 USD
CY2009 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
3027000 USD
CY2011 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-31000000 USD
CY2010 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-24880000 USD
CY2009 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-20838000 USD
CY2011 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
6167000 USD
CY2010 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
6770000 USD
CY2009 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5509000 USD
CY2011 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
15000 USD
CY2008Q4 us-gaap Stockholders Equity
StockholdersEquity
7490000 USD
CY2009 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
3000 USD
CY2009 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
524000 USD
CY2009 us-gaap Adjustments To Additional Paid In Capital Convertible Debt With Conversion Feature
AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature
537000 USD
CY2009Q4 us-gaap Stockholders Equity
StockholdersEquity
-22949000 USD
CY2010 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
2000 USD
CY2010 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
23000 USD
CY2010 us-gaap Adjustments To Additional Paid In Capital Convertible Debt With Conversion Feature
AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature
1692000 USD
CY2011 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
135000 USD
CY2011 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2493000 USD
CY2011 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
37109000 USD
CY2011 pcrx Stock Issued During Period Value Follow On Public Offering Issues
StockIssuedDuringPeriodValueFollowOnPublicOfferingIssues
49006000 USD

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