This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
TheStreet Open House

Aceto's CEO Discusses F4Q2012 Results - Earnings Call Transcript

Stocks in this article: ACET

During this call, Al will provide a strategic overview, Sal will discuss the performance of our business segments and Doug will provide an overview of the company's financial results for the fiscal fourth quarter ended June 30, 2012. Following that we will open the call for questions.

With that I'd now like to turn the call over to Al Eilender. Al?

Albert Eilender

Thanks, Amy and good morning everyone. We are very pleased with our results for fiscal year 2012 as we generated record sales, gross profit and net income. Our sales increased by 7.7% to a record level of 444 million, despite the fact that we withdrew for 2012 from the low margin glyphosate business that we were involved with in fiscal year 2011. If we excluded the 24 million in glyphosate sales generated in fiscal 2011, in order to provided apples to apple comparison sales increased by even more impressive 14%.

We experienced significant margin expansion largely due to the full-year inclusion of the higher margin rising pharmaceuticals generics business contracted to the six months in fiscal 2011 and also improved product mix. For fiscal 2012 we reported earnings per share of $0.63 a share compared to $0.34 of share in fiscal 2011, an 85% increase. After adjusting for one-time charges in both periods which were explained in the press we generated pro forma earnings per share of $0.65 in fiscal 2012 compared to $0.47 pro forma in fiscal 2011, an increase of 38%.

These results I feel clearly demonstrate that we continue to execute on our plan. With our renamed and reconfigured business segments, human health, pharmaceutical ingredients and performance chemicals, our core strategy continues to focus on expanding our product offerings by partnering with manufacturing sources to develop and ultimately distribute products, both domestically and internationally.

In fiscal 2012 we launched seven new finished dosage generic products in our Human Health segment through our rising pharmaceutical subsidiary which included three launches in fiscal fourth quarter. We expect to launch an additional nine products in fiscal 2013 and our pipeline remains very strong with visibility through fiscal 2015. Ron Gold of course will discuss this in more details later on in our discussion.

2 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,708.47 +247.15 1.50%
S&P 500 1,953.67 +26.56 1.38%
NASDAQ 4,456.3650 +73.5180 1.68%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs