, a provider of pharmaceutical care for the elderly, said its second quarter results now include an additional special charge of $22 million, or 18 cents a share.
The additional charge reflects an increase in the reserve it previously created relating to an inquiry being conducted by the attorney general's office in Michigan relating to certain billing issues under the Michigan Medicaid program.
The special charge is included in the financials in the 10-Q form filed by the company.
The company said the special litigation charge was not included in the second quarter earnings released on July 27. Earlier, the Covington, Ky.-based Omnicare said it earned $30.4 million, or 25 cents a share, in the second quarter ended June.
Including the additional litigation charge of $22 million, the company's earnings now reduce to $8.4 million or 7 cents a share. Adjusted for items, the company's earnings remained unchanged at $82.1 million, or 67 cents a share.
Omnicare said it still cannot predict the ultimate outcome of the Michigan matter.
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