As a result of the restatement, Akorn will re-characterize approximately 8.3 million of originally recorded purchase price as additional expense for the quarter ended March 31, 2012.
In addition to the company’s consolidated statement of cash flow for the three months ended March 31, 2012, and March 31, 2011 have been adjusted to correct a classification error. The error resulted in an understatement of net cash provided by operating activities of 1.4 million, with a corresponding understatement of net cash used in investing activities for the three months ended March 31, 2012, and an overstatement of net cash provided by operating activities of $500,000 for the corresponding overstatement of net cash used in investing activities for the three month period ended March 31, 2011.
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