DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2014

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of Valuation and Qualifying Accounts Disclosure

The following table summarizes activity in the consolidated balance sheets for accruals and allowances for the years ended December 31, 2014 and 2013:

(in thousands)	Accruals for Chargebacks, Returns and Other Allowances
							Administrative		Prompt
					Medicaid		Fees and Other		Payment
	Chargebacks		Returns		Rebates		Rebates		Discounts
Balance at December 31, 2012	$	5,662	$	411	$	180	$	231	$	242
Accruals/Adjustments		28,009		1,595		333		2,355		1,129
Credits Taken Against Reserve		(29,595)		(1,270)		(260)		(1,851)		(1,039)
Balance at December 31, 2013	$	4,076	$	736	$	253	$	735	$	332
Accruals/Adjustments		35,740		1,493		2,692		5,212		1,820
Credits Taken Against Reserve		(32,951)		(784)		(681)		(4,460)		(1,681)
Balance at December 31, 2014	$	6,865	$	1,445	$	2,264	$	1,487	$	471

Schedule of Earnings Per Share, Basic and Diluted

The numerator for earnings per share for the years ended December 31, 2014 and 2013 are calculated for basic and diluted earnings per share as follows:

	Basic				Diluted
	Year ended				Year ended
(in thousands)	December 31,				December 31,
	2014		2013		2014		2013
Net income	$	28,747	$	106	$	28,747	$	106
Preferred stock dividends		-		(4,975)				(4,975)
Net income allocated to restricted stock		(159)		-		(158)		-
Net income/(loss) from continuing operations allocated to common shares	$	28,588	$	(4,869)	$	28,589	$	(4,869)
Gain on discontinued operations	$	-	$	195	$	-	$	195
Net gain on discontinued operations allocated to warrants		-		(1)		-		(2)
Net gain on discontinued operations allocated to restricted stock		-		-		-		-
Gain on discontinued operations allocated to common shares	$	-	$	194	$	-	$	193
Basic Weighted-Average Shares Outstanding		10,941		5,071		10,941		5,071
Dilutive effect of stock options						71		-
Dilutive effect of warrants						41		-
Diluted Weighted-Average Shares Outstanding						11,053		5,071
Earnings Per share from Continuing Operations	$	2.61	$	(0.96)	$	2.59	$	(0.96)
Earnings Per share from Discontinued Operation		-		0.04		-		0.04
Earnings/(Loss) Per Share	$	2.61	$	(0.92)	$	2.59	$	(0.92)