HAYWARD, Calif., Nov. 4, 2014 /PRNewswire/ -- Impax Laboratories, Inc.(NASDAQ: IPXL) today reported total revenues increased 19.1% to $158.0 million for the third quarter ended September 30, 2014, compared to $132.6 million in the prior year period. Adjusted diluted earnings per share increased to $0.33 for the third quarter 2014, compared to $0.25 per diluted share in the prior year period. On a GAAP basis, diluted earnings per share increased to $0.22 for the third quarter 2014, compared to break-even results in the prior year period.
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Third quarter 2014 adjusted earnings before interest, taxes, depreciation and amortization (Adjusted EBITDA) increased $14.0 million to $48.2 million, compared to $34.2 million in the prior year period. Cash, cash equivalents and short-term investments increased $29.4 million to $442.5 million as of September 30, 2014, compared to December 31, 2013.
"The strong third quarter results were driven by higher sales from our key products in the generics business as well as continued growth of Zomig® nasal spray in our brand division," said Fred Wilkinson, president and chief executive officer of Impax Laboratories.
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