American Pacific's CEO Discusses F2Q 2012 Results - Earnings Call Transcript

In addition, we will be referring to both GAAP and non-GAAP financial measures. Our recently published earnings release contains definitions of these non-GAAP measures and a reconciliation of these non-GAAP measures to the most comparable GAAP measures. Our earnings release can be found in the news release section of our website at apfc.com.

I will now turn the call over to Joe.

Joseph Carleone

Thank you, Linda, and good afternoon, ladies and gentlemen, and thank you for joining our conference call. I’m pleased to report that our second quarter results for 2012 are on track, and have demonstrated improved performance over previous quarters. Production across the corporation is meeting our expectation. Our Fine Chemicals segment continues to see expansion from our core and new products, especially in the coming two quarters. Because of this outlook, we are confirming guidance of at least $220 million in sales and $35 million in EBITDA for fiscal 2012.

Dana will discuss guidance in more detail later in this conference call. As we indicated in our last call, in the first half of this year we would see a transition to improved profitability. This is certainly the case as our second quarter results demonstrate a clear bottom line improvement over the previous quarter. We are expecting this improvement to continue, especially in our Fine Chemicals segment as the second half of fiscal year progresses.

Our Fine Chemicals and Aerospace Equipment segments continue to build upon our core products and add new products and customers. Our Specialty Chemicals segment remains stable and profitable. We continue to look for approaches to improve product margins through our operational excellence and cost reduction initiative, and are focused on keeping operating expenses, as low as profitable in the face of rising costs in many areas. Success with these products related and cost reduction activity will make us more profitable and provide a path for our growth profile in the future.

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