ALPHARMA INC.
CONSOLIDATED STATEMENT OF INCOME
(In thousands, except per share data)
(Unaudited)
Three Months Ended Three Months Ended
March 31, 2000 June 30, 2000
Reported Restated Reported Restated
Total revenue $188,280 $186,078 $219,545 $224,039
Cost of sales 98,036 97,042 121,417 123,957
Gross profit 90,244 89,036 98,128 100,082
Selling, general
and 63,097 63,097 68,293 68,293
administrative
expenses
Operating income 27,147 25,939 29,835 31,789
Interest expense (10,860) (10,860) (13,053) (13,053)
Other, net 948 948 (4,857) (4,857)
Income before
provision 17,235 16,027 11,925 13,879
for income taxes
Provision for 6,121 5,662 4,093 4,835
income taxes
Net income $11,114 $10,365 $ 7,832 $ 9,044
Earnings per common
share:
Basic $ 0.38 $ 0.35 $ 0.24 $ 0.28
Diluted $ 0.35 $ 0.33 $ 0.24 $ 0.27
CONSOLIDATED CONDENSED BALANCE SHEET
(In thousands)
(Unaudited)
March 31, 2000 June 30, 2000
Reported Restated Reported Restated
Accounts $182,166 $169,587 $219,137 $211,433
receivable
Inventory 170,809 177,740 231,614 235,846
Other current 26,482 26,482 36,611 36,611
assets
Current 379,457 373,809 487,362 483,890
assets
Non current 758,191 758,191 1,004,801 1,004,801
assets
Total $1,137,648 $1,132,000 $1,492,163 $1,488,691
assets
Current $155,517 $153,478 $201,440 $200,143
liabilities
Long-term debt 583,135 583,135 705,965 705,965
Deferred taxes 49,807 49,807 50,970 50,970
and other
Other (52,069) (52,350) (65,769) (65,828)
comprehensive loss
Stockholders' 401,258 397,930 599,557 597,441
equity
Total
liabilities & $1,137,648 $1,132,000 $1,492,163 $1,488,691
equity
