LARGO, Fla., July 1, 2009 (GLOBE NEWSWIRE) -- In a release issued by GeoPharma, Inc. (Nasdaq:GORX) on June 30, 2009 under the same headline, please note that the Pharmaceutical revenues line item wasn't included, causing the numbers for the remaining line items to be incorrect. The corrected table follows:
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Fiscal year ended March 31,
Revenues: 2009 2008
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Manufacturing $ 20,238,000 $ 24,402,000
Pharmaceutical $ 1,721,000 $ 232,000
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Total revenues, net $ 21,959,000 $ 24,634,165
Gross Profit $ 2,904,000 $ 3,861,000
Stock compensation expense $ 1,461,000 $ 957,000
Depreciation and amortization $ 1,951,000 $ 1,721,000
SG&A $ 13,658,000 $ 10,366,000
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Operating income (loss) $(14,165,000) $ (9,183,000)
Other income / (expense), net $ 2,321,000 $ (373,000)
Income (loss) from continuing operations
before minority interest and income tax $(11,844,000) $ (9,556,000)
Minority interest $ 709,000 $ 900,000
Income tax benefit (expense) $ 1,063,000 $ 1,228,153
Income (loss) from continuing operations $(10,072,000) $ (7,428,000)
Discontinued operations- Distribution:
Revenues - Distribution $ 41,061,000 $ 30,334,000
Cost of sales - Distribution $ 33,514,000 $ 23,328,000
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Gross profit - Distribution $ 7,547,000 $ 7,006,000
SGA - Distribution $ 11,800,000 $ 8,971,000
Other income (expense), net - Distribution $ 570,000 $ 1,087,000
Asset impairments- Distribution $ 13,312,000 $ --
Income tax benefit (expense) -
Distribution $ 1,004,000 $ 1,282,000
Exit income (expense) - Distribution $ -- $ --
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Income (loss) from discontinued operations
- Distribution $(15,991,000) $ 403,000
Income (loss) from discontinued operations
- PBM $ -- $ 8,400
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Net income (loss) $(26,064,000) $ (7,017,000)
Preferred dividends $ 576,000 $ 408,000
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Net income (loss) available to common
shareholders $(26,640,000) $ (7,425,000)
Basic and diluted earnings (loss) per
common share outstanding $ (1.62) $ (0.59)
Basic weighted average common shares
outstanding 16,446,191 12,541,659
Basic and diluted earnings (loss) per
common share outstanding - Distribution $ (0.97) $ 0.03
Basic and diluted earnings (loss) per
common share outstanding - PBM $ -- $ --