Cumberland Pharmaceuticals Inc. reported net income of $3.1 million, or $0.17 per diluted share, for the year ending 12/31/2009. The company earned $4.8 million, or $0.29 per diluted share, in 2008.
Cumberland Pharmaceuticals Inc. reported an increase in revenues on a year over year basis. The company had revenues of $43.5 million in 2009, up from $35.0 million in 2008.
Cumberland Pharmaceuticals Inc. strengthened its balance sheet in 2009. The company reported a cash balance of $78.7 million in 2009, compared to $11.8 million in 2008.
A.J. Kazimi, the CEO of Cumberland Pharmaceuticals Inc., said, “The approval and launch of Caldolor and our initial public offering made 2009 a pivotal year for Cumberland. We are pleased to report that we achieved our objectives of remaining profitable and cash flow positive during the Caldolor launch, and that our balance sheet is now the strongest in the history of the Company.”
Cumberland Pharmaceuticals Inc. is a specialty pharmaceutical company that primarily serves the hospital acute care and gastroenterology sub markets. Cumberland Pharmaceuticals Inc. became a public company in an initial public offering in August 2009. The company has several products in its portfolio, including Acetadote (acetylcysteine), Kristalose (lactulose) and Caldolor (ibuprofen).