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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV