Selected Quarterly Financial and Supplementary Data

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Quarterly Financial Information [Text Block]

CAMBREX CORPORATION AND SUBSIDIARIES

SELECTED QUARTERLY FINANCIAL AND SUPPLEMENTARY DATA - UNAUDITED

(in thousands, except

per share data)

	1st			2nd			3rd			4th
	Quarter			Quarter			Quarter			Quarter
2016
Gross sales	$	93,935		$	119,054		$	99,867		$	178,682
Net revenues		94,741			118,638			99,399			177,866
Gross profit		38,899			48,557			37,602			79,167
Income from continuing operations (1)		14,845			20,810			13,721			37,949
Loss from discontinued operations (3)		(263	)		(316	)		(4,503	)		(565	)
Net income		14,582			20,494			9,218			37,384
Earnings per share of common stock: (4)
Basic		0.46			0.64			0.29			1.16
Diluted		0.44			0.62			0.28			1.13
Average shares:
Basic		31,886			32,063			32,149			32,240
Diluted		32,771			32,926			32,999			33,107

	1st			2nd		3rd			4th
	Quarter			Quarter		Quarter			Quarter
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 (2)		8,368			19,450		11,876			17,482
(Loss)/income from discontinued operations (3)		(375	)		213		(129	)		332
Net income		7,993			19,663		11,747			17,814
Earnings per share of common stock: (4)
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

(1) Income from continuing operations for the first, second, third, and fourth quarters includes $290 of expense, $154 of expense, a $47 benefit and $761 of expense, respectively, for restructuring related to the decision to sell our finished dosage form facility in Hyderabad, India.

(2) Income from continuing operations in the fourth quarter 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.

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

(4) 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.