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|ACETO Reports Fiscal 2016 Third Quarter Results|
Third Quarter Fiscal 2016 versus Third Quarter Fiscal 2015
“We are pleased with the results we achieved in the third quarter of fiscal 2016. Consistent with our performance for the first half of fiscal 2016 both GAAP and non-GAAP Adjusted EPS growth for the third quarter were strong and well ahead of net sales growth,” said
“Each of our business segments contributed to the 8.3% increase in net sales.
“As we enter the last quarter of our fiscal year, we remain on track with our previous guidance for fiscal 2016 and expect to achieve a low single-digit increase in net sales, a high single-digit to low double-digit increase in net income on a GAAP basis, and low double-digit growth on a non-GAAP Adjusted basis. This outlook for the balance of fiscal 2016 takes into account increased competition in our
Third Quarter Financial Review
Net sales for the third quarter of fiscal 2016 were
Pharmaceutical Ingredients segment sales were
Performance Chemicals segment sales were
Total selling, general and administrative expenses were up modestly at
Operating income totaled
Management will host a conference call to discuss the operating and financial results at
A live webcast of the conference call will be available in the Investor Relations section of the Company’s website, www.aceto.com. Please access the website 15 minutes prior to the start of the call to download and install any necessary audio software.
A telephone replay of the conference call will be available from
Use of Non-GAAP Financial Information
In addition to U.S. GAAP results, this press release also includes certain non-GAAP financial measures as defined by the
Pursuant to the requirements of Regulation G, reconciliations of Adjusted Net Income to U.S. GAAP net income are presented in the table Non-GAAP Reconciliation of this press release.
FORWARD LOOKING STATEMENTS
This news release contains forward-looking statements as that term is defined in the federal securities laws. The events described in forward-looking statements contained in this news release may not occur. Generally, these statements relate to our business plans or strategies, projected or anticipated benefits or other consequences of ACETO’s plans or strategies, financing plans, projected or anticipated benefits from acquisitions that
Any one or more of these uncertainties, risks and other influences could materially affect ACETO’s results of operations and whether forward-looking statements made by
(Financial Tables Follow)
Investor Relations Contact: LHA Jody Burfening firstname.lastname@example.org (212) 838-3777