We remain optimistic about our growth prospects in all three of our business segments and are looking forward to reporting on our future successes in fiscal 2013 and beyond. We however would like to remind you that our business is difficult to project on a quarter-to-quarter basis due to the nature of the products we sell and the markets we serve and therefore quarterly earnings may fluctuate.
You may have noted we also announced that our Board of Directors has declared a regular quarterly dividend of $0.055 per common share which represents an increase of 10%, another indication of our optimistic view of the future. As we also announced this morning, it gives me great pleasure to turn the reins of the company over to Sal Guccione to serve as our new Chief Executive Officer effective January 1, 2013.
As you may recall Sal joined Aceto’s Board of Directors in May 2011 and then took on the role of President and COO in December of that year, all part of our succession planning. Having worked with Sal for these past 18 months or so, the board and I are confident that he is very well suited from an operational and visionary skill set to take the company to yet another level of growth and profitability.
I will remain as Chairman of the Board and together with Sal intend to continue to enhance the Aceto business through internal initiatives and with prudent acquisitions all the while focusing on both top and bottom line growth. With that, I'm going to hand the call over to Sal for a review of our segments and its performance.Read the rest of this transcript for free on seekingalpha.com
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV