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KV Pharmaceutical Company Reports Record Revenues for Fiscal 2008 Second Quarter and Six Months on a Preliminary Basis
Date:11/20/2007

Second Quarter Net Revenues Up 61%, Six-Month Net Revenues Up 40% ETHEX Corporation Net Revenues Up 102% for Second Quarter and 67% for Six

Months Ther-Rx Corporation Net Revenues Up 13% for Second Quarter and 14% for Six

Months

ST. LOUIS, Nov. 20 /PRNewswire-FirstCall/ -- KV Pharmaceutical Company (NYSE: KVa/KVb) today reported preliminary financial results reflecting strong revenue and earnings growth for the second quarter and first six months of fiscal 2008 ended September 30, 2007. The results reflected accelerated growth of the Company's generic/non-branded subsidiary, ETHEX Corporation, and continued growth at the Company's branded subsidiary, Ther-Rx Corporation.

All financial data presented herein is preliminary and subject to change until completion of our consolidated financial statements for all such periods, which is dependent on the completion of our previously announced restatement of the Company's financial statements for fiscal years 1996 through 2006 and the quarter ended June 30, 2006, as well as the completion of the Company's consolidated financial statements for September 30 and December 31, 2006 and the fiscal year ended March 31, 2007. The Company was not able to file its Form 10-Q for the quarter ended September 30, 2007 with the Securities and Exchange Commission in a timely manner. In addition, the Company also has not filed its September 30 and December 31, 2006 Form 10-Q's, its March 31, 2007 Form 10-K and its June 30, 2007 Form 10-Q. The restatement, which resulted from an investigation by a special committee of independent members of the Board of Directors into the Company's former stock option grant practices, is in process. The Company will file the affected reports promptly upon completion.

Second Quarter Results

Net revenues for the second quarter increased 61% to $175.4 million, compared to $108.8 million for the second qua
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SOURCE KV Pharmaceutical Company
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