Net earnings amounted to $4.0 million or $0.18 per share compared to $11.9 million or $0.54 per share last year in the third quarter ending November 30, 2011. Excluding the results of Velan ABV, the effects of purchase price accounting and currency impacts, the company would have reported net earnings of $6.4 million or $0.29 per share in the current quarter compared to $6.8 million or $0.30 per share last year.
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