{"id":46663,"date":"2022-07-28T00:01:51","date_gmt":"2022-07-27T22:01:51","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/taro-provides-results-for-the-quarter-ended-june-30-2022\/"},"modified":"2022-07-28T00:01:51","modified_gmt":"2022-07-27T22:01:51","slug":"taro-provides-results-for-the-quarter-ended-june-30-2022","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/taro-provides-results-for-the-quarter-ended-june-30-2022\/","title":{"rendered":"Taro Provides Results for the Quarter Ended June 30, 2022"},"content":{"rendered":"<div>\n<p>HAWTHORNE, N.Y.&#8211;(BUSINESS WIRE)&#8211;Taro Pharmaceutical Industries Ltd. (NYSE: TARO) (\u201cTaro\u201d or the \u201cCompany\u201d) today provided unaudited financial results for the quarter ended June 30, 2022.\n<\/p>\n<p>\n<b>Quarter ended June 30, 2022* Highlights \u2500 compared to June 30, 2021<\/b>\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nNet sales increased $9.6 million, or 6.5%, to $156.7 million.\n<\/li>\n<li>\nGross profit of $81.6 million (52.1% of net sales) compared to $77.7 million (52.8% of net sales).\n<\/li>\n<li>\nResearch and development (R&amp;D) expenses of $11.5 million decreased $1.4 million.\n<\/li>\n<li>\nSelling, marketing, general and administrative expenses of $56.1 million increased $32.1 million.\n<\/li>\n<li>\nOperating income of $14.0 million (8.9% of net sales) compared to an operating loss of $(19.2) million. Excluding the settlement and loss contingencies charges in the prior year quarter, operating income was $40.8 million (27.7% of net sales).\n<\/li>\n<li>\nInterest and other financial income of $1.9 million decreased $1.1 million.\n<\/li>\n<li>\nTax expense of $2.0 million compared to $2.7 million in the prior year quarter. Excluding the impact from the settlement and loss contingencies charges in the prior year quarter, the effective tax rate for the quarter was 12.3% as compared to 6.1% in the prior year quarter.\n<\/li>\n<li>\nNet income attributable to Taro was $14.1 million compared to net loss of $(18.8) million, resulting in earnings per share of $0.37 compared to (loss) per share of $(0.50). Excluding the impact from the settlement and loss contingencies charges in the prior year quarter, net income was $41.2 million, resulting in earnings per share of $1.09.\n<\/li>\n<\/ul>\n<p>\n<b>Cash Flow and Balance Sheet Highlights<\/b>\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nCash flow used in operations for the quarter ended June 30, 2022, was $58.0 million. Excluding the impact from the settlement and loss contingencies charges, cash flow provided by operations was $9.6 million compared to $44.0 million for the quarter ended June 30, 2021.\n<\/li>\n<li>\nAs of June 30, 2022, cash and cash equivalents and marketable securities (both short- and long-term) decreased $74.7 million to $1.18 billion from March 31, 2022; principally the result of a $67.6 million settlement payment to the Direct Purchaser Plaintiff (\u201cDPP\u201d) class in the In re: Generic Drug Pricing Antitrust Litigation, MDL No. 2724.\n<\/li>\n<\/ul>\n<p>\nMr. Uday Baldota, Taro\u2019s CEO, stated, \u201c<!-- no quote -->While we maintain the leading market position of many of our products, we continue to face an overall market trend, particularly in the U.S, that is not dramatically changing, and depending on the product, price deflation continues to be a challenge. With input costs rising sharply, we will continue to allocate increasing amounts of capital including R&amp;D efforts into growth and profitable businesses and new businesses opportunities\u201d.\n<\/p>\n<p>\n<b>* The June 30, 2022 results include three month\u2019s results from the February 28<sup>th<\/sup> acquisition of Alchemee.<\/b>\n<\/p>\n<p>\n<b><span class=\"bwuline\">FDA Approvals and Filings<\/span><\/b>\n<\/p>\n<p>\nThe Company recently received approvals from the U.S. Food and Drug Administration (\u201cFDA\u201d) for the Abbreviated New Drug Application (\u201cANDA\u201d) Fluphenazine Tablets 1mg, 2.5mg, 5mg, 10mg. The Company currently has a total of eighteen ANDAs awaiting FDA approval, including four tentative approvals.\n<\/p>\n<p>\n<b><span class=\"bwuline\">Generic Drug Pricing Antitrust Litigation MDL No. 2724<\/span><\/b>\n<\/p>\n<p>\nOn November 4, 2021, a settlement was reached with the putative DPP, a putative class generally comprised of wholesalers and distributors that purchased generic drug products from manufacturers. On May 11, 2022, the Court granted preliminary approval of Taro\u2019s settlement with the DPP class. As a result, on June 8, 2022, within the required time period, Taro made a $67.6 million settlement payment to the DPP class plaintiffs, subject to a reduction of up to $8.0 million depending on the volume of certain class members that may opt-out of the settlement.\n<\/p>\n<p>\nThe Company cautions that the foregoing 2022 financial information (including Alchemee) is unaudited and is subject to change.\n<\/p>\n<p class=\"bwalignc\">\n<b>************************<\/b>\n<\/p>\n<p>\n<b>About Taro<\/b>\n<\/p>\n<p>\nTaro Pharmaceutical Industries Ltd. is a multinational, science-based pharmaceutical company dedicated to meeting the needs of its customers through the discovery, development, manufacturing and marketing of the highest quality healthcare products. For further information on Taro Pharmaceutical Industries Ltd., please visit the Company\u2019s website at www.taro.com.\n<\/p>\n<p>\n<b>SAFE HARBOR STATEMENT<\/b>\n<\/p>\n<p>\n<i>The unaudited consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments necessary to present fairly the financial condition and results of operations of the Company. The unaudited consolidated financial statements should be read in conjunction with the Company\u2019s audited consolidated financial statements included in the Company\u2019s Annual Report on Form 20-F, as filed with the SEC.<\/i>\n<\/p>\n<p>\n<i>Certain statements in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements that do not describe historical facts or that refer or relate to events or circumstances the Company \u201cestimates,\u201d \u201cbelieves,\u201d or \u201cexpects\u201d to happen or similar language, and statements with respect to the Company\u2019s financial performance, availability of financial information, and estimates of financial results and information for fiscal year 2023. Although the Company believes the expectations reflected in such forward-looking statements to be based on reasonable assumptions, it can give no assurances that its expectations will be attained. Factors that could cause actual results to differ include general domestic and international economic conditions, industry and market conditions, changes in the Company&#8217;s financial position, litigation brought by any party in any court in Israel, the United States, or any country in which Taro operates, regulatory and legislative actions in the countries in which Taro operates, and other risks detailed from time to time in the Company\u2019s SEC reports, including its Annual Reports on Form 20-F. Forward-looking statements are applicable only as of the date on which they are made. The Company undertakes no obligations to update, change or revise any forward-looking statement, whether as a result of new information, additional or subsequent developments or otherwise.<\/i>\n<\/p>\n<p class=\"bwalignc\">\n<b><i>**Financial Tables Follow**<\/i><\/b>\n<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwalignc bwvertalignm bwpadl0\" colspan=\"9\" rowspan=\"1\"><b>TARO PHARMACEUTICAL INDUSTRIES LTD.<\/b><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignc bwvertalignm bwpadl0\" colspan=\"9\" rowspan=\"1\"><b>SUMMARY CONSOLIDATED STATEMENTS OF OPERATIONS<\/b><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignc bwvertalignm bwpadl0\" colspan=\"9\" rowspan=\"1\">(Unaudited)<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignc bwvertalignm bwpadl0\" colspan=\"9\" rowspan=\"1\">(U.S. dollars in thousands, except share data)<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignc bwvertalignm bwpadl0 bwwidth55\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignc bwvertalignm bwpadl0 bwwidth55\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignb bwsinglebottom bwpadl0\" colspan=\"7\" rowspan=\"1\"><b>Quarter Ended June 30,<\/b><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwpadl0 bwwidth55\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignc bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<b>2022 (1)<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignc bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<b>2021<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignc bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwpadl0 bwwidth55\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignt bwpadl0\" colspan=\"3\" rowspan=\"1\">(unaudited)<\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignt bwpadl0\" colspan=\"3\" rowspan=\"1\">(unaudited)<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth55\" colspan=\"1\" rowspan=\"1\"><b>Sales, net<\/b><\/td>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>$<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>156,665<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>$<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>147,113<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth55\" colspan=\"1\" rowspan=\"1\">Cost of sales<\/td>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n75,059\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n69,415\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth55\" colspan=\"1\" rowspan=\"1\"><b>Gross profit<\/b><\/td>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>81,606<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>77,698<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth55\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth55\" colspan=\"1\" rowspan=\"1\"><i>Operating Expenses:<\/i><\/td>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwwidth55 bwpadl2\" colspan=\"1\" rowspan=\"1\">Research and development<\/td>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n11,508\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n12,952\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwwidth55 bwpadl2\" colspan=\"1\" rowspan=\"1\">Selling, marketing, general and administrative<\/td>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n56,122\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n23,976\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwwidth55 bwpadl2\" colspan=\"1\" rowspan=\"1\">Settlements and loss contingencies<\/td>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u2014\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n60,000\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth55\" colspan=\"1\" rowspan=\"1\"><b>Operating income (loss) *<\/b><\/td>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>13,976<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>(19,230<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<b>)<\/b>\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth55\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth55\" colspan=\"1\" rowspan=\"1\"><i>Financial income, net:<\/i><\/td>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwwidth55 bwpadl2 bwalignl\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\nInterest and other financial income\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(1,926\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(3,042\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwwidth55 bwpadl2 bwalignl\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\nForeign exchange expense\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n294\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n275\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth55\" colspan=\"1\" rowspan=\"1\">Other gain, net<\/td>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n445\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n384\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth55\" colspan=\"1\" rowspan=\"1\">Income (loss) before income taxes<\/td>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n16,053\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(16,079\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth55\" colspan=\"1\" rowspan=\"1\">Tax expense<\/td>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,974\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2,688\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth55\" colspan=\"1\" rowspan=\"1\"><b>Net income (loss) attributable to Taro *<\/b><\/td>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>$<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignr bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>14,079<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignr bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>$<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignr bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>(18,767<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignr bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<b>)<\/b>\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth55\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth55\" colspan=\"1\" rowspan=\"1\"><b>Net earnings ( loss) per ordinary share attributable to Taro:<\/b><\/td>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth55\" colspan=\"1\" rowspan=\"1\">Basic and Diluted *<\/td>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwalignr bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0.37\n<\/p>\n<\/td>\n<td class=\"bwalignr bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwalignr bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.50\n<\/p>\n<\/td>\n<td class=\"bwalignr bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth55\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth55\" colspan=\"1\" rowspan=\"1\"><b>Weighted-average number of shares used to compute net loss per share:<\/b><\/td>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth55\" colspan=\"1\" rowspan=\"1\">Basic and Diluted<\/td>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n37,584,891\n<\/p>\n<\/td>\n<td class=\"bwalignr bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n37,794,430\n<\/p>\n<\/td>\n<td class=\"bwalignr bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth55\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth55\" colspan=\"1\" rowspan=\"1\">May not foot due to rounding.<\/td>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td class=\"bwpadl0\" colspan=\"6\" rowspan=\"1\">(1) Includes quarters\u2019 results from Alchemee (acquired February 28, 2022).<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0\" colspan=\"6\" rowspan=\"2\"><i>* Excluding the one-time provision of $60.0 million for settlements and loss contingencies, for the quarter ended June 30, 2021, Operating income was $40.8 million, Net income attributable to Taro was $41.2 million, and Basic and diluted earnings per share was $1.09.<\/i><\/td>\n<\/tr>\n<\/table>\n<p>\n<i>Note:<\/i> June 30, 2022, includes the Balance Sheet of Alchemee (acquired February 28, 2022).\n<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwalignc bwvertalignm bwpadl0\" colspan=\"6\" rowspan=\"1\"><b>TARO PHARMACEUTICAL INDUSTRIES LTD.<\/b><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignc bwvertalignm bwpadl0\" colspan=\"6\" rowspan=\"1\"><b>SUMMARY CONSOLIDATED BALANCE SHEETS<\/b><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignc bwvertalignm bwpadl0\" colspan=\"6\" rowspan=\"1\">(U.S. dollars in thousands)<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignc bwvertalignm bwpadl0 bwwidth36\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0\" colspan=\"2\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0\" colspan=\"2\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth36\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<b>June 30,<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<b>March 31,<\/b>\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth36\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwwidth2\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<b>2022<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwwidth2\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<b>2022<\/b>\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth36\" colspan=\"1\" rowspan=\"1\"><b>ASSETS<\/b><\/td>\n<td class=\"bwalignc bwvertalignt bwpadl0\" colspan=\"2\" rowspan=\"1\">(unaudited)<\/td>\n<td class=\"bwalignc bwvertalignt bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignt bwpadl0\" colspan=\"2\" rowspan=\"1\">(audited)<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth36\" colspan=\"1\" rowspan=\"1\">CURRENT ASSETS:<\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0\" colspan=\"2\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0\" colspan=\"2\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth36\" colspan=\"1\" rowspan=\"1\">Cash and cash equivalents<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n225,801\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n251,134\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth36\" colspan=\"1\" rowspan=\"1\">Short-term bank deposits<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n22,586\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n47,586\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth36\" colspan=\"1\" rowspan=\"1\">Restricted short-term bank deposits<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u2014\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u2014\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth36\" colspan=\"1\" rowspan=\"1\">Marketable securities<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n557,859\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n522,028\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth36\" colspan=\"1\" rowspan=\"1\">Accounts receivable and other:<\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0\" colspan=\"2\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0\" colspan=\"2\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwwidth36 bwpadl2 bwalignl\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\nTrade, net\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n265,858\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n246,972\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwwidth36 bwpadl2 bwalignl\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\nOther receivables and prepaid expenses\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n59,330\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n59,727\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth36\" colspan=\"1\" rowspan=\"1\">Inventories<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n216,833\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n210,439\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth36\" colspan=\"1\" rowspan=\"1\">Long-term assets held for sale, net<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u2014\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u2014\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth36\" colspan=\"1\" rowspan=\"1\"><b>TOTAL CURRENT ASSETS<\/b><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>1,348,267<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>1,337,886<\/b>\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth36\" colspan=\"1\" rowspan=\"1\">Marketable securities<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n374,968\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n435,189\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth36\" colspan=\"1\" rowspan=\"1\">Property, plant and equipment, net<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n194,805\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n199,692\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth36\" colspan=\"1\" rowspan=\"1\">Deferred income taxes<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n123,573\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n124,882\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth36\" colspan=\"1\" rowspan=\"1\">Goodwill<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n12,718\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n11,820\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth36\" colspan=\"1\" rowspan=\"1\">Other assets<\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n65,661\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n66,893\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth36\" colspan=\"1\" rowspan=\"1\"><b>TOTAL ASSETS<\/b><\/td>\n<td class=\"bwalignr bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>$<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignr bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>2,119,992<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>$<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignr bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>2,176,362<\/b>\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth36\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0\" colspan=\"2\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0\" colspan=\"2\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth36\" colspan=\"1\" rowspan=\"1\"><b>LIABILITIES AND SHAREHOLDERS&#8217; EQUITY<\/b><\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0\" colspan=\"2\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0\" colspan=\"2\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth36\" colspan=\"1\" rowspan=\"1\">CURRENT LIABILITIES:<\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0\" colspan=\"2\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0\" colspan=\"2\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth36\" colspan=\"1\" rowspan=\"1\">Trade payables<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n73,923\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n68,232\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth36\" colspan=\"1\" rowspan=\"1\">Other current liabilities<\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n300,529\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n363,886\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth36\" colspan=\"1\" rowspan=\"1\"><b>TOTAL CURRENT LIABILITIES<\/b><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>374,452<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>432,118<\/b>\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth36\" colspan=\"1\" rowspan=\"1\">Deferred taxes and other long-term liabilities<\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n31,826\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n32,799\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth36\" colspan=\"1\" rowspan=\"1\"><b>TOTAL LIABILITIES<\/b><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>406,278<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>464,917<\/b>\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth36\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0\" colspan=\"2\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0\" colspan=\"2\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth36\" colspan=\"1\" rowspan=\"1\">Taro shareholders&#8217; equity<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,713,714\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,711,445\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth36\" colspan=\"1\" rowspan=\"1\">Non-controlling interest<\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u2014\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u2014\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth36\" colspan=\"1\" rowspan=\"1\"><b>TOTAL LIABILITIES AND SHAREHOLDERS&#8217; EQUITY<\/b><\/td>\n<td class=\"bwalignr bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>$<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignr bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>2,119,992<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>$<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignr bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwwidth29\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>2,176,362<\/b>\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth36\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0\" colspan=\"2\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0\" colspan=\"2\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0\" colspan=\"2\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n<i>Note:<\/i> June 30, 2022, includes the Balance Sheet of Alchemee (acquired February 28, 2022).\n<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwalignc bwvertalignm bwpadl0\" colspan=\"8\" rowspan=\"1\"><b>TARO PHARMACEUTICAL INDUSTRIES LTD.<\/b><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignc bwvertalignm bwpadl0\" colspan=\"8\" rowspan=\"1\"><b>SUMMARY CONSOLIDATED STATEMENTS OF CASH FLOWS<\/b><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignc bwvertalignm bwpadl0\" colspan=\"8\" rowspan=\"1\">(U.S. dollars in thousands)<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth57\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"3\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwpadl0 bwwidth57\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignm bwsinglebottom bwpadl0\" colspan=\"7\" rowspan=\"1\"><b>Quarter Ended June 30,<\/b><\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwpadl0 bwwidth57\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignc bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<b>2022<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignc bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignc bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<b>2021<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignc bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwpadl0 bwwidth57\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\">(unaudited)<\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\">(unaudited)<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwpadl0 bwwidth57\" colspan=\"1\" rowspan=\"1\"><b>Cash flows from operating activities:<\/b><\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwpadl0 bwwidth57\" colspan=\"1\" rowspan=\"1\"><b>Net income (loss)<\/b><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>$<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>14,079<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>$<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>(18,767<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<b>)<\/b>\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwpadl0 bwwidth57\" colspan=\"1\" rowspan=\"1\"><b><i>Adjustments required to reconcile net income (loss) to net cash used in operating activities:<\/i><\/b><\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwwidth57 bwpadl2\" colspan=\"1\" rowspan=\"1\">Depreciation and amortization<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n6,978\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n6,346\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwwidth57 bwpadl2\" colspan=\"1\" rowspan=\"1\">Realized gains on sale of long-lived assets<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u2014\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(4\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwwidth57 bwpadl2\" colspan=\"1\" rowspan=\"1\">Change in derivative instruments, net<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(24\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(166\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwwidth57 bwpadl2\" colspan=\"1\" rowspan=\"1\">Effect of change in exchange rate on marketable securities and bank deposits<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n747\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(589\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwwidth57 bwpadl2\" colspan=\"1\" rowspan=\"1\">Deferred income taxes, net<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2,415\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n11,244\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwwidth57 bwpadl2\" colspan=\"1\" rowspan=\"1\">Increase in trade receivables, net<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(19,321\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(3,295\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwwidth57 bwpadl2\" colspan=\"1\" rowspan=\"1\">Increase in inventories, net<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(6,566\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(2,568\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwwidth57 bwpadl2\" colspan=\"1\" rowspan=\"1\">Increase in other receivables, income tax receivables, prepaid expenses and other<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(467\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(2,598\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwwidth57 bwpadl2\" colspan=\"1\" rowspan=\"1\">(Decrease) increase in trade, income tax, accrued expenses and other payables<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(59,819\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n52,211\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwwidth57 bwpadl2\" colspan=\"1\" rowspan=\"1\">Expense from amortization of marketable securities bonds, net<\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3,950\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2,179\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwpadl0 bwwidth57\" colspan=\"1\" rowspan=\"1\"><b>Net cash (used in) provided by operating activities<\/b><\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>(58,028<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<b>)<\/b>\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>43,993<\/b>\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignr bwvertalignm bwpadl0 bwwidth57\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwpadl0 bwwidth57\" colspan=\"1\" rowspan=\"1\"><b>Cash flows from investing activities:<\/b><\/td>\n<td class=\"bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwwidth57 bwpadl2\" colspan=\"1\" rowspan=\"1\">Purchase of plant, property &amp; equipment, net<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(2,074\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(3,855\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwwidth57 bwpadl2\" colspan=\"1\" rowspan=\"1\">Investment in other intangible assets<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(34\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(72\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwwidth57 bwpadl2\" colspan=\"1\" rowspan=\"1\">Investment in short-term bank deposits, net<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n25,000\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u2014\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwwidth57 bwpadl2\" colspan=\"1\" rowspan=\"1\">Proceeds from long-term deposits and other assets<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(73\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u2014\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwwidth57 bwpadl2\" colspan=\"1\" rowspan=\"1\">(Investment in) proceeds from marketable securities, net<\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n11,936\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(12,500\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwpadl0 bwwidth57\" colspan=\"1\" rowspan=\"1\"><b>Net cash (used in) provided by investing activities<\/b><\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>34,755<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>(16,427<\/b>\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<b>)<\/b>\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignr bwvertalignm bwpadl0 bwwidth57\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwpadl0 bwwidth57\" colspan=\"1\" rowspan=\"1\"><b>Cash flows from financing activities:<\/b><\/td>\n<td class=\"bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwwidth57 bwpadl2\" colspan=\"1\" rowspan=\"1\">Purchase of treasury stock<\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u2014\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(18,319\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwpadl0 bwwidth57\" colspan=\"1\" rowspan=\"1\"><b>Net cash used in financing activities<\/b><\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>\u2014<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>(18,319<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<b>)<\/b>\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignr bwvertalignm bwpadl0 bwwidth57\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwpadl0 bwwidth57\" colspan=\"1\" rowspan=\"1\"><b>Effect of exchange rate changes on cash and cash equivalents<\/b><\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(2,060\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n464\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwpadl0 bwwidth57\" colspan=\"1\" rowspan=\"1\"><b>(Decrease) increase in cash and cash equivalents<\/b><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(25,333\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n9,711\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwpadl0 bwwidth57\" colspan=\"1\" rowspan=\"1\"><b>Cash and cash equivalents at beginning of period<\/b><\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n251,134\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n605,177\n<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwpadl0 bwwidth57\" colspan=\"1\" rowspan=\"1\"><b>Cash and cash equivalents at end of period<\/b><\/td>\n<td class=\"bwalignr bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>$<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignr bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>225,801<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignr bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>$<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignr bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>614,888<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignr bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwpadl0 bwwidth57\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwpadl0 bwwidth57\" colspan=\"1\" rowspan=\"1\"><b>Cash Paid during the year for:<\/b><\/td>\n<td class=\"bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwpadl0 bwwidth57\" colspan=\"1\" rowspan=\"1\">Income taxes<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2,410\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3,333\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwpadl0 bwwidth57\" colspan=\"1\" rowspan=\"1\"><b>Cash Received during the year for:<\/b><\/td>\n<td class=\"bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwpadl0 bwwidth57\" colspan=\"1\" rowspan=\"1\">Income taxes<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n12,511\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2,351\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwpadl0 bwwidth57\" colspan=\"1\" rowspan=\"1\"><b>Non-cash investing transactions:<\/b><\/td>\n<td class=\"bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwpadl0 bwwidth57\" colspan=\"1\" rowspan=\"1\">Purchase of property, plant and equipment included in accounts payable<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,232\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,225\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwpadl0 bwwidth57\" colspan=\"1\" rowspan=\"1\"><b>Non-cash financing transactions:<\/b><\/td>\n<td class=\"bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwpadl0 bwwidth57\" colspan=\"1\" rowspan=\"1\">Purchase of treasury stock<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u2014\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n430\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwpadl0 bwwidth57\" colspan=\"1\" rowspan=\"1\">Purchase of marketable securities, net<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2,050\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3,179\n<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwpadl0 bwwidth57\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n<i>Note:<\/i> June 30, 2022, includes the Balance Sheet of Alchemee (acquired February 28, 2022).\n<\/p>\n<p> <b>Contacts<\/b> <\/p>\n<p>\n<b>William J. Coote<\/b><br \/>VP, CFO<br \/>\n<br \/>(914) 345-9001<br \/>\n<br \/><a target=\"_blank\" href=\"&#109;a&#x69;l&#x74;o&#x3a;&#87;&#x69;&#108;&#x6c;&#105;a&#x6d;&#46;&#x43;o&#x6f;&#116;&#x65;&#64;&#x74;&#97;&#x72;&#111;&#46;&#x63;o&#x6d;\" rel=\"nofollow noopener\" shape=\"rect\">&#87;&#x69;&#108;&#x6c;&#105;&#x61;m&#x2e;C&#x6f;o&#116;&#x65;&#64;&#x74;&#97;&#x72;&#111;&#x2e;c&#x6f;m<\/a>\n<\/p>\n<p>\n\u00a0\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>HAWTHORNE, N.Y.&#8211;(BUSINESS WIRE)&#8211;Taro Pharmaceutical Industries Ltd. (NYSE: TARO) (\u201cTaro\u201d or the \u201cCompany\u201d) today provided unaudited financial results for the quarter ended June 30, 2022. Quarter ended June 30, 2022* Highlights \u2500 compared to June 30, 2021 Net sales increased $9.6 million, or 6.5%, to $156.7 million. Gross profit of $81.6 million (52.1% of net sales) &#8230; <span class=\"more\"><a class=\"more-link\" href=\"https:\/\/pharma-trend.com\/en\/taro-provides-results-for-the-quarter-ended-june-30-2022\/\">[Read more&#8230;]<\/a><\/span><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":{"0":"entry","1":"post","2":"publish","3":"author-business","4":"post-46663","6":"format-standard","7":"category-industry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Taro Provides Results for the Quarter Ended June 30, 2022 - Pharma Trend<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pharma-trend.com\/en\/taro-provides-results-for-the-quarter-ended-june-30-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Taro Provides Results for the Quarter Ended June 30, 2022 - Pharma Trend\" \/>\n<meta property=\"og:description\" content=\"HAWTHORNE, N.Y.&#8211;(BUSINESS WIRE)&#8211;Taro Pharmaceutical Industries Ltd. (NYSE: TARO) (\u201cTaro\u201d or the \u201cCompany\u201d) today provided unaudited financial results for the quarter ended June 30, 2022. Quarter ended June 30, 2022* Highlights \u2500 compared to June 30, 2021 Net sales increased $9.6 million, or 6.5%, to $156.7 million. Gross profit of $81.6 million (52.1% of net sales) ... 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