This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Balchem's CEO Discusses Q2 2012 Results - Earnings Call Transcript

I will now turn the call over to Dino Rossi, our Chairman, President and CEO.

Dino Rossi

Thanks, Frank. Good morning, ladies and gentlemen and welcome to our conference call. We’re pleased to report second quarter net earnings of 10 million on record consolidated sales of 79 million for the quarter ended June 30, 2012. These second quarter sales of $79 million were approximately 5.8% greater than the $74.7 million result of the prior year comparable quarter.

In the quarter, ARC Specialty Products segment generated record quarterly sales of 12.5 million, a 3.6% improvement over the prior year quarter, a confined result of increased sales volumes and modestly higher selling prices of packaged ethylene oxide and propylene oxide in the quarter.

Animal Nutrition & Health at 54.8 million set a new quarterly record, up 5.8% over the prior year comparable quarter, as we realized another very strong quarter for our AN&H sales, which were up 36%. This strong performance recognizes the offset by the company decision to suspend sales of the AMINOSHURE-L, 52% Lysine product. As previously reported, there were no safety concerns relating to this product, however, research indicated that the Lysine bioavailability of the product was lower than originally designed and projected, hence found to not meet our internal expectations.

The sales and earnings from operations impact of suspending this product was approximately $1 million in the quarter. Sales of our basic choline and industrial products were up approximately 1% in the quarter. Food, Pharma & Nutrition at $11.8 million also set a new quarterly record, up 8.1% over the prior year comparable quarter, where strength in the human grade choline and Nitroshure products, which was up 34%, was partially offset by lower quarterly sales of the encapsulated products sold in to the food market.

As previously noted, consolidated net income closed the quarter at $10 million, up from approximately $9.6 million in the prior year quarter or an increase of approximately 4.2%, again net of the AminoShure-L product suspension decision. This quarterly net income translated in to diluted earnings per share of $0.33, a new second quarter record as compared to the $0.32 we’ve posted in the comparable quarter of 2011.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.03 -2.90%
FB $116.73 7.20%
GOOG $691.02 -2.10%
TSLA $247.54 -1.60%
YHOO $36.59 -0.97%


Chart of I:DJI
DOW 17,830.76 -210.79 -1.17%
S&P 500 2,075.81 -19.34 -0.92%
NASDAQ 4,805.2910 -57.85 -1.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs