Print Page  Close Window

SEC Filings

10-Q
ACETO CORP filed this Form 10-Q on 11/03/2017
Entire Document
 << Previous Page | Next Page >>

 

 

ACETO CORPORATION AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(unaudited and in thousands, except per-share amounts)

 

 

Pharmaceutical Ingredients – includes pharmaceutical intermediates and active pharmaceutical ingredients (“APIs”).

 

Performance Chemicals - The Performance Chemicals segment is made up of two product groups: Specialty Chemicals and Agricultural Protection Products. Specialty Chemicals include a variety of chemicals used in the manufacture of plastics, surface coatings, cosmetics and personal care, textiles, fuels and lubricants, perform to their designed capabilities. Dye and pigment intermediates are used in the color-producing industries such as textiles, inks, paper, and coatings. Organic intermediates are used in the production of agrochemicals.

 

Agricultural Protection Products include herbicides, fungicides and insecticides that control weed growth as well as control the spread of insects and other microorganisms that can severely damage plant growth.

 

The Company's chief operating decision maker evaluates performance of the segments based on net sales, gross profit and income before income taxes. Unallocated corporate amounts are deemed by the Company as administrative, oversight costs, not managed by the segment managers. The Company does not allocate assets by segment because the chief operating decision maker does not review the assets by segment to assess the segments' performance, as the assets are managed on an entity-wide basis. During all periods presented, our chief operating decision maker has been the Chief Executive Officer of the Company. In accordance with GAAP, the Company has aggregated certain operating segments into reportable segments because they have similar economic characteristics, and the operating segments are similar in all of the following areas: (a) the nature of the products and services; (b) the nature of the production processes; (c) the type or class of customer for their products and services; (d) the methods used to distribute their products or provide their services; and (e) the nature of the regulatory environment.

 

Three months Ended September 30, 2017 and 2016:

 

   Human
Health
   Pharmaceutical
Ingredients
   Performance
Chemicals
   Unallocated
Corporate
   Consolidated
Totals
 
2017                    
Net sales  $106,015   $36,576   $42,664   $-   $185,255 
Gross profit   24,647    5,840    9,496    -    39,983 
Income (loss) before income taxes   5,026    2,231    4,945    (10,064)   2,138 
                          
2016                         
Net sales  $47,889   $40,616   $39,513   $-   $128,018 
Gross profit   14,205    6,954    9,680    -    30,839 
Income (loss) before income taxes   3,972    3,067    4,832    (5,091)   6,780 

 

 18 
 << Previous Page | Next Page >>