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news.Caraco Pharmaceutical Laboratories, a pharmaceutical company that develops, manufactures, markets and distributes generic pharmaceuticals to the wholesalers, distributors, warehousing and non-warehousing chain drugstores and managed care providers, has reported net sales of $130m for the first quarter of Fiscal 2011 compare to $48.1m for the first quarter of Fiscal 2010.
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Caraco Pharma earned net income of $1.2m during the first quarter of Fiscal 2011, as compared to incurring a net loss of $9.4m during the corresponding period of Fiscal 2010
The company has posted a net income of $1.2m during the first quarter of Fiscal 2011, or $0.03 per diluted share, compared to $9.4 m, or $0.25 per diluted share, for the same period prior year.
Operating income was $1.58m, compared to $14.4m for the comparable period in 2010.
Caraco is a subsidiary of Sun Pharmaceutical Industries (Sun Pharma), a pharmaceutical company in India.