KV Pharmaceutical Company Completes Unaudited Fiscal 2007 Results; Receives Trading Extension...(umulated other comprehensive income (los...),Health

Less: Treasury stock, 3,237,023 shares of

Class A and 92,902 shares of Class B Common

Stock at March 31, 2007, and 3,123,975 shares

of Class A and 92,902 shares of Class B Common

Stock at March 31, 2006, at cost (55,981) (53,904)

Total Shareholders' Equity 364,827 302,999

Total Liabilities and Shareholders' Equity $707,783 $619,313

K-V PHARMACEUTICAL COMPANY AND SUBSIDIARIES

UNAUDITED CONSOLIDATED STATEMENTS OF INCOME

(In thousands, except per share data)

Years ended March 31,

2007 2006 2005

(as restated) (as restated)

Net revenues $443,627 $367,640 $304,656

Cost of sales 147,263 123,935 107,948

Gross profit 296,364 243,705 196,708

Operating expenses:

Research and development 31,462 28,886 23,538

Purchased in-process research and

development and transaction costs - 30,441 -

Selling and administrative 174,344 143,437 118,263

Amortization of intangibles 4,810 4,784 4,653

Litigation (2,408) - (1,430)

Total operating expenses 208,208 207,548 145,024

Operating income 88,156 36,157 51,684

Other expense (income):

Interest expense 8,985 6,045 5,432

Interest and other income (9,901) (5,737) (3,048)

Total ot
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