Columbia Laboratories Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company total net revenues increased 65% to $6.3 million compared to $3.8 million in the first quarter of 2012, driven primarily by a $2.6 million increase in net product revenues from Merck Serono S.A. and, to a lesser extent, higher royalty revenues from Actavis Inc. Operating income was $1.0 million, versus an operating loss of $1.3 million in the first quarter of 2012. The change in operating income primarily reflects the $1.6 million increase in gross profit and a $0.6 million decrease in total operating expenses in the first quarter of 2013. Net income was $1.2 million, or $0.01 per basic and diluted share, compared to net income of $5.0 million, or $0.06 per basic and loss of $0.01 per diluted share, for the first quarter of 2012. Income before provision for income taxes was $1.245 million against $4.957 million a year ago. Net cash flow from operations was $700,000.

Columbia Laboratories Inc. announced that the Annual Meeting of Shareholders of the company was held on May 1, 2013, approved the proposed authorization to the Board to amend the company's certificate of incorporation to effectuate a reverse stock split of its common stock at a ratio of up to and including one-for-ten, such ratio to be determined by the Board.

Columbia Laboratories Inc., Q1 2013 Earnings Call, May 09, 2013