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Acme United Corporation Reports 19% Sales Increase And 50% Increase In Earnings Per Share For The Fourth Quarter

Acme United Corporation (NYSE AMEX:ACU) today announced that net sales for the fourth quarter ended December 31, 2011 were $15.8 million, compared to $13.4 million in the comparable period of 2010, an increase of 19%. Excluding sales resulting from the acquisition on February 28, 2011 of Pac-Kit, one of the oldest manufacturers of first aid products, comparable sales for the quarter ended December 31, 2011 increased by 9%. Net sales for the year ended December 31, 2011 were $73.3 million, compared to $63.1 million in 2010, an increase of 16% (8% excluding Pac-Kit).

Net income was $266,000, or $.09 per diluted share, for the quarter ended December 31, 2011, compared to $181,000 or $.06 per diluted share, for the comparable period last year, an increase of 49% in net income and 50% in diluted earnings per share.

Net income for the year ended December 31, 2011 was $2,811,000, or $.91 per diluted share, compared to $2,573,000, or $.81 per diluted share, last year, a 9% increase in net income and a 12% increase in diluted earnings per share.

Net sales for the quarter ended December 31, 2011 in the U.S. segment increased 22% compared to the same period in 2010. Net sales for the year ended December 31, 2011 in the U.S. segment increased 20% compared to 2010. Sales in the U.S. for both periods increased due to market share gains in the mass market channel, the addition of sales resulting from the acquisition of the Pac-Kit Company and increased distribution of first aid products. Net sales in Canada for the three months ended December 30, 2011 were constant in both U.S dollars and local currency compared to the same period in 2010. Net sales in Canada for the year ended December 31, 2011 increased 10% in U.S. dollars (5% in local currency) compared to 2010. Sales in Canada for the year increased primarily due to the introduction of new products. European net sales for the three months ended December 31, 2011 increased 10% in both U.S. dollars and local currency, compared to the same period last year. European net sales for the year ended December 31, 2011 decreased 2% in U.S. dollars (8% in local currency) compared to last year. These changes in European net sales in 2011 related primarily to the timing of mass market sales.

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