DETROIT, Jan. 30, 2011 /PRNewswire/ — Caraco Pharmaceutical
Laboratories, Ltd. (NYSE Amex:
CPD) generated net sales of $40.4 million and $268.2 million in
the third quarter and first nine months of its Fiscal Year 2011,
respectively, as compared to $52.0 million and $178.4 million,
respectively, for the corresponding periods of our previous fiscal
year (“Fiscal 2010”) ended December 31, 2009. During the third
quarter and first nine months of Fiscal 2011, sales of Caraco-owned
products were $5.7 million and $16.7 million, respectively, as
compared to $3.3 million and $18.9 million, respectively, during
the corresponding periods of Fiscal 2010. The sales of distributed
products during the third quarter and first nine months of Fiscal
2011 were $34.7 million and $251.5 million, respectively, as
compared to $48.7 million and $159.5 million, respectively, during
the corresponding periods of Fiscal 2010. Caraco earned a gross
profit of $3.3 million and $22.4 million during the third quarter
and first nine months of Fiscal 2011, respectively, as compared to
earning a gross profit of $3.1 million and incurring a gross loss
of $4.7 million, respectively, during the corresponding periods of
Fiscal 2010. The Company incurred pre-tax losses of $4.8 million
and $5.2 million, respectively, during the third quarter and first
nine months of Fiscal 2011, as compared to incurring pre-tax losses
of $4.9 and $8.8 million during the respective periods of Fiscal
2010. The Company recorded an income tax benefit of $1.8 million
and $1.9 million, respectively, for the third quarter and first
nine months of Fiscal 2011, as compared to recording income tax
benefits of $1.9 million and $3.0 million during the corresponding
periods of Fiscal 2010. Caraco incurred net losses of $3.0 million
and $3.3 million, respectively, during the third quarter and first
nine months of Fiscal 2011, as compared to incurring net
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