Caraco Pharmaceutical Laboratories, Ltd. (CPD) Reports Second Fiscal Quarter Earnings
Caraco Pharmaceutical Laboratories, Ltd. reported revenues of $78.4 million in the second fiscal quarter of 2010 ended September, 30, 2009, down from $122.8 million in the same quarter last year. Caraco Pharmaceutical Laboratories, Ltd had net income of $6.6 million, or $0.17 per diluted share, in the second quarter. The company earned $8.4 million, or $0.21 per diluted share, in the same quarter last year. Caraco Pharmaceutical Laboratories, Ltd. said that sales of distributed products were down due to lower shipments of its Paragraph IV products and “price erosion” on those products. Distributed products refer to products that the company…