This Day On The Street
Continue to site right-arrow
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 Reports Fiscal 2013 Second Quarter Results

Stocks in this article: ACET

FISCAL 2013 SECOND QUARTER HIGHLIGHTS (Comparisons to FY 2012 Q2):

  • Net sales increased 2.9% to $114.0 million, from $110.7 million
  • Gross profit of $20.7 million, in line with a year ago
  • Net income of $4.5 million, in line with a year ago
  • EPS of $0.17, in line with a year ago

PORT WASHINGTON, N.Y., Feb. 7, 2013 (GLOBE NEWSWIRE) -- ACETO Corporation (Nasdaq:ACET), a global leader in the marketing, sale and distribution of products for Human Health, Pharmaceutical Ingredients and Performance Chemicals, announced today results of operations for its fiscal 2013 second quarter and six months ended December 31, 2012.

Sal Guccione, Chief Executive Officer of ACETO, stated, "We are pleased with our results for the first six months of fiscal 2013, with sales up 6.5% and earnings per share up 9.7% on an adjusted basis. These results reflect the continued execution of our strategies across our three business segments. Our fiscal second quarter results, with sales up 2.9% and relatively flat net income, reflect the variability of our order stream, which had some acceleration in our fiscal first quarter, particularly in the Performance Chemicals segment."

"In the fiscal second quarter, sales within the Human Health segment increased 9.3%, driven by continued strength in Rising Pharmaceuticals. We have already launched six new generic drug products in this fiscal year, with four in this quarter, including the launch of our first authorized generic drug. With a robust product pipeline, we anticipate that new product launches will continue to be a key growth driver in this segment and expect to launch three new products during the second half of fiscal 2013. Sales in Pharmaceutical Ingredients increased 2.9% in the current quarter, while the Performance Chemicals segment experienced a 1.0% decline in sales, reflecting the favorable order pattern experienced in the first quarter of fiscal 2013.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link 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

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

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