Sucampo Pharmaceuticals, Inc. Reports Full Year and Fourth Quarter 2010 Financial Results

Sucampo Pharmaceuticals, Inc. SCMP (SPI) today reported its consolidated financial results for the fourth quarter and year ended December 31, 2010. In December 2010, as previously reported, SPI acquired the affiliated companies, Sucampo AG (SAG), a Swiss-based patent-holding company, and its wholly-owned subsidiary Sucampo AG Japan Ltd. (SAG-J), a patent maintenance company. The acquisition of SAG was accounted for as a merger of companies under common control, and accounted for at historical costs. These results incorporate the results of SAG and its subsidiary in both the current and historical periods presented. For the full year, Sucampo recorded a net loss of $2.8 million, or $0.07 per diluted share, compared with net income of $4.8 million, or $0.11 per diluted share, for 2009. Sucampo reported a net loss of $6.3 million, or $0.15 per diluted share, for the fourth quarter 2010, compared to net income of $3.0 million, or $0.07 per diluted share, in the same period in 2009.