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Caraco Pharmaceutical Laboratories, Ltd. Reports Results for the Third Quarter and First Nine Months of Fiscal Year 2011
Date:1/30/2011

s represent our judgment as of the date of this report. We disclaim, however, any intent or obligation to update our forward-looking statements.CARACO PHARMACEUTICAL LABORATORIES, LTD.(A subsidiary of Sun Pharmaceutical Industries Limited)STATEMENTS OF OPERATIONSNine Months ended December 31,Quarter ended December 31,2010200920102009(UNAUDITED)(UNAUDITED)(UNAUDITED)(UNAUDITED)Net sales $ 268,205,415 $ 178,435,869 $  40,386,809 $  51,989,958 Cost of goods sold245,842,635 7,148,654 37,061,173 48,905,076 Reserve for inventory seized by FDA-   5,950,188 -   -   Gross profit (loss)22,362,780 (4,662,973)3,325,636 3,084,882 Selling, general and administrative expenses20,399,479 5,855,217 ,592,397 5,402,641 Research and development costs7,824,822 8,346,916 ,726,940 2,753,965 Non-recurring (income)-   (20,000,000)-   -   Operating loss(5,861,521)(8,865,106)(4,993,701)(5,071,724)Other income (expense)  Interest expense(397,270)(402,174)(18,645)(144,089)  Interest income,018,552 464,835 85,519 200,175  Gain / (loss) on sale of equipment7,205 (114,272)4,705 -    Other income3,649 20,698 3,649 74,390 Other income – net632,13669,087175,228130,476Loss before income tax benefit(5,229,385)(8,796,019)(4,818,473)(4,941,248)  Income tax benefit(1,896,069)(3,008,190)(1,783,205)(1,907,934)Net loss $   (3,333,316) $   (5,787,829) $   (3,035,268) $   (3,033,314)Net loss per common share  Basic

$(0.08)$(0.15)$(0.08)$(0.08)  Diluted$(0.08)$(0.15)$(0.08)$(0.08)Weighted number of shares  Basic

39,397,22738,457,17639,788,93339,090,194  Diluted

39,397,22738,457,17639,788,93339,090,194
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SOURCE Caraco Pharmaceutical Laboratories, Ltd.
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