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Impax Laboratories Reports Second Quarter 2012 Adjusted EPS Increased To $0.60; GAAP EPS Increased To $0.27

Stocks in this article: IPXL

Segment Information

The Company has two reportable segments, the Global Pharmaceuticals Division (generic products & services) and the Impax Pharmaceuticals Division (brand products & services) and does not allocate general corporate services to either segment.

Global Pharmaceuticals Division Information

(unaudited, amounts in thousands)  

Three Months Ended

June 30,


Six Months Ended

June 30,

2012   2011 2012   2011
Global product sales, net $ 126,435 $ 111,125 $ 242,646 $ 203,463
Rx Partner 2,466 4,866 5,444 7,548
OTC Partner 783 1,184 1,474 3,127
Research Partner   3,384   3,384   6,769   9,769
Total Revenues 133,068 120,559 256,333 223,907
Cost of revenues   70,478   63,257   133,584   110,431
Gross profit   62,590   57,302   122,749   113,476
Operating expenses:
Research and development 12,136 13,466 22,798 23,242
Patent litigation 2,914 2,209 6,952 3,983
Selling, general and administrative   3,319   2,579   7,692   5,198
Total operating expenses   18,369   18,254   37,442   32,423
Income from operations $ 44,221 $ 39,048 $ 85,307 $ 81,053

Global Pharmaceuticals Division revenues in the second quarter 2012 were $133.1 million, up 10% compared to the prior year period, due to higher Global product sales, net, partially offset by lower Rx Partner sales.

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