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Selected Quarterly Financial Data (Tables)
 12 Months Ended
Dec. 31, 2014
Selected Quarterly Financial Data [Abstract]  
Schedule Of Selected Quarterly Financial Data

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands, except per share amounts)

 

 

 

March 31,

 

June 30,

 

September 30,

 

December 31,

 

 

 

2014

 

2014

 

2014

 

2014

 

Product sales, net

 

$
26,064 

 

$
31,551 

 

$
33,621 

 

$
40,737 

 

Promotion services revenue

 

 
501 

 

 
962 

 

 
666 

 

 
688 

 

Cost of product sales

 

 
4,561 

 

 
5,011 

 

 
6,005 

 

 
7,425 

 

Net income

 

 
4,134 

 

 
9,640 

 

 
7,915 

 

 
3,519 

(1)

Basic net income per share

 

$
0.08 

 

$
0.19 

 

$
0.16 

 

$
0.07 

 

Diluted net income per share

 

$
0.08 

 

$
0.18 

 

$
0.15 

 

$
0.07 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands, except per share amounts)

 

 

 

March 31,

 

June 30,

 

September 30,

 

December 31,

 

 

 

2013

 

2013

 

2013

 

2013

 

Product sales, net

 

$
20,533 

 

$
21,683 

 

$
25,273 

 

$
31,925 

 

Promotion services revenue

 

 
9,273 

 

 
7,609 

 

 
9,953 

 

 
809 

 

Cost of product sales

 

 
4,618 

 

 
3,205 

 

 
3,808 

 

 
6,037 

 

Net income (loss)

 

 
4,203 

 

 
(1,983)

(2)

 
8,708 

(3)

 
36 

(4)

Basic net income (loss) per share

 

$
0.08 

 

$
(0.04)

 

$
0.16 

 

$
0.00 

 

Diluted net income (loss) per share

 

$
0.08 

 

$
(0.04)

 

$
0.16 

 

$
0.00 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

During the three months ended December 31, 2014, the Company recorded upfront payments totaling $11.0 million in research and development expense related to its licensing arrangements.

(2)

During the three months ended June 30, 2013, the Company recorded upfront payments totaling $5.0 million in research and development expense related to its licensing arrangements.

(3)

On July 8, 2013, the Company and the representatives of the former stockholders of NovaMed entered into a “Confidential Escrow Settlement Agreement” pursuant to which the Company retained approximately $0.8 million in cash and 342,300 shares of its common stock, having a combined value of approximately $2.6 million on the settlement date that was recorded to other income during the three months ended September 30, 2013.

(4)

During the three months ended December 31, 2013, the Company recorded $2.0 million of operating expense to reflect the Company’s estimate of a probable loss incurred related to potential penalties, fines and/or other remedies related to the SEC and DOJ ongoing investigations.