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
2017
Gross sales	$	103,711		$	134,487		$	112,233	$	175,505
Net revenues		105,006			134,554			112,619		182,277
Gross profit		46,825			57,502			46,889		78,871
Income from continuing operations (1)		21,115			25,124			17,276		40,249
(Loss)/income from discontinued operations (3)		(1,250	)		(94	)		20		10
Net income		19,865			25,030			17,296		40,259

Earnings per share of common stock: (4)
Basic		0.61			0.77			0.53		1.23
Diluted		0.60			0.75			0.52		1.20
Average shares:
Basic		32,454			32,629			32,749		32,810
Diluted		33,365			33,469			33,512		33,532

	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 (2)		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

(

)

Income from continuing operations for the first, second, third, and

fourth

quarters includes a favorable impact to tax expense of

$2,654

$1,725,

$735,

and

$122,

respectively, from the adoption of ASU

2016

09,

and expense of

$117

in the

fourth

quarter as a result of the change in enacted tax rates in the U.S. and the toll tax.

(

)

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.

(

)

Discontinued operations include

charges and reimbursements for environmental remediation related to sites of divested businesses.

(

)

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.