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

12 Months Ended

Dec. 31, 2015

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule Of New Accounting Pronouncements And Changes In Accounting Principles

For the year ended  December 31, 2015, we adopted new guidance regarding the presentation of the balance sheet disclosure for debt issuance costs and new guidance regarding the balance sheet classification of deferred taxes. We adopted these on a retrospective basis. To conform to the current period presentation, we reclassified the following amounts in our consolidated balance sheet dated December 31, 2014:

(in thousands)	Original Prior Period Presentation		Amount Reclassified		Current Prior Period Presentation
Deferred tax asset, net of valuation allowance, current	$	7,643	$	(7,643)	$	-
Prepaid expenses and other current assets	$	1,983	$	(844)	$	1,139
Current Assets	$	203,478	$	(8,487)	$	194,991
Deferred financing costs, net	$	3,307	$	(3,307)	$	-
Deferred tax asset, net of valuation allowance	$	7,796	$	7,643	$	15,439
Total Assets	$	263,709	$	(4,151)	$	259,558
Convertible notes, net of discount and deferred financing costs	$	110,691	$	(4,151)	$	106,540
Liabilities	$	123,924	$	(4,151)	$	119,773

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, 2015, 2014, and 2013:

(in thousands)	Accruals for Chargebacks, Returns and Other Allowances
							Administrative		Prompt
			Medicaid				Fees and Other		Payment
	Chargebacks		Rebates		Returns		Rebates		Discounts
Balance at December 31, 2012	$	5,662	$	180	$	411	$	231	$	242
Accruals/Adjustments		28,009		333		1,595		2,355		1,129
Credits Taken Against Reserve		(29,595)		(260)		(1,270)		(1,851)		(1,039)
Balance at December 31, 2013	$	4,076	$	253	$	736	$	735	$	332
Accruals/Adjustments		35,740		2,692		1,493		5,212		1,820
Credits Taken Against Reserve		(32,951)		(681)		(784)		(4,460)		(1,681)
Balance at December 31, 2014	$	6,865	$	2,264	$	1,445	$	1,487	$	471
Accruals/Adjustments		51,933		6,719		2,808		6,136		2,744
Credits Taken Against Reserve		(47,417)		(4,352)		(1,605)		(5,970)		(2,541)
Balance at December 31, 2015	$	11,381	$	4,631	$	2,648	$	1,653	$	674

Schedule of Earnings Per Share, Basic and Diluted

The numerator for earnings per share for the years ended December 31, 2015, 2014, and 2013 are calculated for basic and diluted earnings per share as follows:

	Basic						Diluted
(in thousands, except per share amounts)	Year ended December 31,						Year ended December 31,
	2015		2014		2013		2015		2014		2013
Net income	$	15,375	$	28,747	$	106	$	15,375	$	28,747	$	106
Preferred stock dividends		-		-		(4,975)		-		-		(4,975)
Net income allocated to restricted stock		(85)		(159)		-		(84)		(158)		-
Net income/(loss) from continuing operations allocated to common shares	$	15,290	$	28,588	$	(4,869)	$	15,291	$	28,589	$	(4,869)
Gain on discontinued operations	$	-	$	-	$	195	$	-	$	-	$	195
Net gain on discontinued operations allocated to warrants		-		-		(1)		-		-		(2)
Gain on discontinued operations allocated to common shares	$	-	$	-	$	194	$	-	$	-	$	193
Basic Weighted-Average Shares Outstanding		11,370		10,941		5,071		11,370		10,941		5,071
Dilutive effect of stock options								187		71		-
Dilutive effect of warrants								-		41		-
Diluted Weighted-Average Shares Outstanding								11,557		11,053		5,071
Earnings Per share from Continuing Operations	$	1.34	$	2.61	$	(0.96)	$	1.32	$	2.59	$	(0.96)
Earnings Per share from Discontinued Operation		-		-		0.04		-		-		0.04
Earnings/(Loss) Per Share	$	1.34	$	2.61	$	(0.92)	$	1.32	$	2.59	$	(0.92)