Caraco reports quarterly earnings
DETROIT — Caraco Pharmaceutical Labs had sales of $40.4 million during the third quarter of fiscal year 2011, and $268.2 million during the first nine months of the fiscal year, the company said in an earnings report released Sunday.
Caraco, whose fiscal year 2011 ended Dec. 31, 2010, said that it included sales of products that it owns and products that it distributes in the figures. The latest numbers compared with $52 million in the third quarter of fiscal 2010 and $178.4 million during the first nine months of fiscal year 2010.
Gross profits were $3.3 million for the third quarter and $22.4 million for the first nine months of fiscal year 2011, compared with $3.1 million and a $4.7 million loss during third quarter 2010 and the first nine months of that fiscal year, respectively.