Cumberland Pharmaceuticals Inc. (CPIX) saw its loss widen to $1.27 million, or $0.08 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $0.25 million, or $0.02 a share. On the other hand, adjusted net income for the quarter stood at $0.26 million, or $0.02 a share compared with $0.26 million or $0.02 a share, a year ago.

Revenue during the quarter grew 24.55 percent to $9.64 million from $7.74 million in the previous year period. Gross margin for the quarter expanded 148 basis points over the previous year period to 85.66 percent. Operating margin for the quarter stood at negative 6.83 percent as compared to a negative 6.47 percent for the previous year period.

Operating loss for the quarter was $0.66 million, compared with an operating loss of $0.50 million in the previous year period.

"We are off to a fast start in 2017," said A.J. Kazimi, chief executive officer of Cumberland Pharmaceuticals. "We have already had a series of positive developments this year that will make important contributions toward our goal of delivering long-term sustainable growth."

The company has spent $0.43 million cash to meet investing activities during the quarter as against cash outgo of $0.95 million in the last year period.

The company has spent $0.55 million cash to carry out financing activities during the quarter as against cash outgo of $1.41 million in the last year period.

Cash and cash equivalents stood at $34.97 million as on Mar. 31, 2017, down 4.02 percent or $1.47 million from $36.44 million on Mar. 31, 2016.