-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, PobuhRkMG0YmQ9J8kV1GdEDb3Lde6RzumqrEzQ7YstvJ/zL7UroOtiM8t5vwjYQ3 0bLYzdvUEknxapAAQEP/Vw== 0001169232-08-002292.txt : 20080610 0001169232-08-002292.hdr.sgml : 20080610 20080610171338 ACCESSION NUMBER: 0001169232-08-002292 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20080529 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20080610 DATE AS OF CHANGE: 20080610 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CARACO PHARMACEUTICAL LABORATORIES LTD CENTRAL INDEX KEY: 0000887708 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 382505723 STATE OF INCORPORATION: MI FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 001-31773 FILM NUMBER: 08891410 BUSINESS ADDRESS: STREET 1: 1150 ELIJAH MCCOY DR CITY: DETROIT STATE: MI ZIP: 48202 BUSINESS PHONE: 3138718400 MAIL ADDRESS: STREET 1: 1150 ELIJAH MCCOY DRIVE CITY: DETROIT STATE: MI ZIP: 48202 8-K/A 1 d74405_8ka.htm

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K/A

(Amendment No. 1)

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

May 29, 2008 (Date of report)

 

CARACO PHARMACEUTICAL LABORATORIES, LTD.

(Exact name of registrant as specified in its charter)

 

 

Michigan

 

0-24676

 

38-2505723

(State or other jurisdiction of incorporation)

 

(Commission file number)

 

(I.R.S. employer identification no.)

 

 

1150 Elijah McCoy Drive, Detroit, Michigan 48202

(Address of principal executive offices)

 

(313) 871-8400

(Registrant’s telephone number, including area code)

 

Not Applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 140.14a-12)

 

o 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

 

 

Item 2.02. Results of Operations and Financial Condition

On May 29, 2008, the Company issued a press release announcing its financial results for the fourth quarter and the year ended March 31, 2008. A correction to the number of shares and per share amounts (diluted) reported in the Statements of Income attached to the press release is furnished as Exhibit 99.1 to this amended Current Report on Form 8-K/A.

The Company has corrected in the attachment its calculation of the weighted number of shares (diluted) outstanding for each of these periods. This also resulted in a correction of its net income per common share (diluted) for the fourth quarter and the year ended March 31, 2008. There is no change in the weighted number of shares (basic) or to the net income per common share (basic) for these periods.

The information in this Item 2.02, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities under that Section. In addition, the information in this Item 2.02, including Exhibit 99.1, shall not be incorporated by reference into the filings of the Company under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits

c)

Exhibits

Exhibit No.

Description

99.1

 

Corrected Press Release Statements of Income

 

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

CARACO PHARMACEUTICAL LABORATORIES, LTD.

 

Date:

June 10, 2008

By:      /s/ Daniel H. Movens

Daniel H. Movens

Chief Executive Officer
 

 

 

 

2

 

 

 

EXHIBIT INDEX

 

99.1

Corrected Press Release Statements of Income

 

3

 

 

 EX-99.1 2 d74405_ex99-1.htm REVISED PRESS RELEASE FINANCIAL STATEMENT

 

EXHIBIT 99.1

 

CARACO PHARMACEUTICAL LABORATORIES, LTD.

 

STATEMENTS OF INCOME

(corrected from May 29, 2008 Press Release as noted below)

 

 

Year Ended March 31,

 

Quarter Ended March 31,

 

2008

 

2007

 

2008

 

2007

 

 

 

 

 

 

 

 

Net sales

$350,366,689

 

$117,027,016

 

$191,751,849

 

$32,738,713

Cost of goods sold

265,651,539

 

59,242,858

 

164,205,690

 

17,327,837

 

 

 

 

 

 

 

 

Gross profit

84,715,150

 

57,784,158

 

27,546,159

 

15,410,876

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative expenses

14,322,140

 

9,880,674

 

4,162,271

 

2,774,778

Research and development costs - affiliate

11,320,640

 

11,761,280

 

-

 

-

Research and development costs – other

18,366,306

 

10,590,643

 

5,889,353

 

3,812,439

 

 

 

 

 

 

 

 

Operating income

40,706,064

 

25,551,561

 

17,494,535

 

8,823,659

 

 

 

 

 

 

 

 

Other income

 

 

 

 

 

 

 

Interest expense

-

 

(28,194)

 

-

 

-

Interest income

1,832,409

 

1,081,208

 

411,679

 

464,886

Loss on sale of equipment

(144,551)

 

(5,106)

 

(140,130)

 

(5,106)

Other income

-

 

258,652

 

-

 

218,756

Other income

1,687,858

 

1,306,560

 

271,549

 

678,536

 

 

 

 

 

 

 

 

Income before income taxes

42,393,922

 

26,858,121

 

17,766,084

 

9,502,195

Income taxes

7,005,817

 

-

 

6,287,191

 

-

 

 

 

 

 

 

 

 

Net income

$35,388,105

 

$26,858,121

 

$11,478,893

 

$9,502,195

 

 

 

 

 

 

 

 

Net income per common share

 

 

 

 

 

 

 

Basic

1.19

 

1.02

 

0.37

 

0.36

Diluted

0.891

 

0.72

 

0.282

 

0.25

 

 

 

 

 

 

 

 

Weighted number of Shares

 

 

 

 

 

 

 

Basic

29,656,624

 

26,447,312

 

31,043,072

 

26,447,312

Diluted

39,913,7543

 

37,254,780

 

40,523,4844

 

37,692,295

 

 

 

 

 

 

 

 

_______________

 

1.

In May 29, 2008 Press Release, it was $0.96.

2.

In May 29, 2008 Press Release, it was $0.29.

3.

In May 29, 2008 Press Release, it was 37,043,634.

4.

In May 29, 2008 Press Release, it was 39,017,023.

 

 

 

 -----END PRIVACY-ENHANCED MESSAGE-----