Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

v3.7.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Revenues:    
Royalties $ 24,230 $ 14,390
Material sales 1,121 5,341
License fees, milestones and other revenues 3,916 9,917
Total revenues 29,267 29,648
Operating costs and expenses:    
Cost of sales [1] 341 955
Amortization of intangibles 2,715 2,524
Research and development 8,673 4,004
General and administrative 7,322 7,069
Total operating costs and expenses 19,051 14,552
Income from operations 10,216 15,096
Other (expense) income:    
Interest expense, net (2,941) (3,005)
Increase in contingent liabilities (140) (1,306)
Loss from Viking (1,083) (1,605)
Other income, net 141 391
Total other expense, net (4,023) (5,525)
Income before income taxes 6,193 9,571
Income tax expense (1,114) (3,694)
Income from operations 5,079 5,877
Gain on sale of Oncology Product Line before income taxes 0 1,139
Income tax expense on discontinued operations 0 (408)
Income from discontinued operations 0 731
Net income $ 5,079 $ 6,608
Basic earnings per share data(2)    
Income from continuing operations (in usd per share) [2] $ 0.24 $ 0.28
Income from discontinued operations (in usd per share) [2] 0.00 0.04
Net income (in usd per share) [2] 0.24 0.32
Diluted earnings per share data (2)    
Income from continuing operations (in usd per share) [2] 0.22 0.26
Income from discontinued operations (in usd per share) [2] 0.00 0.03
Net income (in usd per share) $ 0.22 [2] $ 0.30
Shares used for computation (in thousands)    
Basic (in shares) 20,938,000 20,708,000
Diluted (in shares) 23,019,189 22,283,979
[1] Excludes amortization of intangibles.
[2] The sum of net income per share amounts may not equal the totals due to rounding.