KV Pharmaceutical Company Completes Unaudited Fiscal 2007 Results; Receives Trading Extension...(her expense (income) net (916)...),Health

Income before income taxes and

cumulative effect of change in

accounting principle 89,072 35,849 49,300

Provision for income taxes 32,958 24,433 18,083

Income before cumulative effect of

change in accounting principle 56,114 11,416 31,217

Cumulative effect of change in

accounting principle (net of $670

in taxes)(a) 1,976 - -

Net income $58,090 $11,416 $31,217

(a) Change in accounting principle reflects the effect of estimated

forfeitures related to outstanding awards that are not expected to

vest as of the adoption of FAS 123R.

K-V PHARMACEUTICAL COMPANY AND SUBSIDIARIES

UNAUDITED CONSOLIDATED STATEMENTS OF INCOME - (Continued)

(In thousands, except per share data)

Years ended March 31,

2007 2006 2005

(as restated) (as restated)

Earnings per share before cumulative

effect of change in accounting principle:

Basic - Class A common $1.19 $0.24 $0.68

Basic - Class B common 0.99 0.20 0.56

Diluted - Class A common 1.02 0.23 0.60

Diluted - Class B common 0.88 0.20 0.52

Per share effect of cumulative effect

of change in accounting principle(a):

Basic - Class A common $0.04 $- $-

Basic - Class B common 0.04 - -

Diluted - Class A common 0.03 -
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