Selected Quarterly Financial and Supplementary Data

12 Months Ended

Dec. 31, 2015

Quarterly Financial Information [Text Block]

SELECTED QUARTERLY FINANCIAL AND SUPPLEMENTARY DATA - UNAUDITED

(in thousands, except

share and

per share data)


	1st Quarter			2nd Quarter		3rd Quarter			4th Quarter (1)
2015
Gross sales	$	78,184		$	106,379	$	92,350		$	156,943
Net revenues		77,525			106,635		92,979			156,187
Gross profit		29,079			45,945		35,680			66,261
Income from continuing operations		8,368			19,450		11,876			17,482
Income/(loss) from discontinued operations (6)		(375	)		213		(129	)		332
Net income		7,993			19,663		11,747			17,814

Earnings per share of common stock: (7)
Basic		0.26			0.63		0.37			0.56
Diluted		0.25			0.61		0.36			0.54
Average shares:
Basic		31,198			31,344		31,471			31,661
Diluted		32,158			32,440		32,593			32,784

	1st Quarter (2)			2nd Quarter (3)			3rd Quarter (4)			4th Quarter (5)
2014
Gross sales	$	66,192		$	97,972		$	81,145		$	128,841
Net revenues		66,105			97,893			81,300			129,315
Gross profit		16,578			33,415			28,406			45,399
Income from continuing operations		1,166			19,827			8,882			28,258
Loss from discontinued operations (6)		(184	)		(160	)		(113	)		(373	)
Net income		982			19,667			8,769			27,885

Earnings per share of common stock: (7)
Basic		0.03			0.64			0.28			0.90
Diluted		0.03			0.63			0.28			0.88
Average shares:
Basic		30,546			30,647			30,801			31,053
Diluted		31,408			31,428			31,599			31,803

(1)	Income from continuing operations includes restructuring expenses of $15,573 and a tax benefit of $1,464 related to the decision to sell our finished dosage form facility in Hyderabad, India.

(2)	Income from continuing operations includes the reversal of a valuation allowance on deferred tax assets of $198.

(3)	Income from continuing operations includes the reversal of a valuation allowance on deferred tax assets of $14,161 and a loss of $4,122 related to the purchase of the remaining shares in Zenara.

(4)	Income from continuing operations includes the reversal of a valuation allowance on deferred tax assets of $824.

(5)

Income from continuing operations includes a gain on sale of land of $1,234 and a corresponding tax expense of $387, a benefit of $11,719 for the reversal of a valuation allowance on deferred tax assets, a benefit of $3,948 for favorable audit settlements, and expense of $7,170 related to a voluntary lump sum pension settlement.

(6)	Discontinued operations include charges for environmental remediation related to sites of divested businesses.

(7)	Earnings per share calculations for each of the quarters are based on the weighted average number of shares outstanding for each period. As such, the sum of the quarters may not necessarily equal the earnings per share amount for the year.