Balchem Corporation Announces Fourth Quarter 2012 Results

NEW HAMPTON, N.Y., Feb. 21, 2013 (GLOBE NEWSWIRE) -- Balchem Corporation (Nasdaq:BCPC) reported as follows (unaudited) for the period ended December 31, 2012.

($000 Omitted Except for Net Earnings per Share)
For the Three Months Ended December 31,
	2012	2011
	Unaudited
Net sales	$ 80,060	$ 69,733
Gross margin	22,399	20,843
Operating expenses	7,362	7,150
Earnings from operations	15,037	13,693
Other income	70	79
Earnings before income tax expense	15,107	13,772
Income tax expense	5,215	4,276
Net earnings	$ 9,892	$ 9,496
Diluted net earnings per common share	$ 0.33	$ 0.31
Shares used in the calculation of diluted net earnings per common share	30,391	30,343
For the Twelve Months Ended December 31,
	2012	2011
	Unaudited
Net sales	$ 310,393	$ 291,867
Gross margin	89,539	86,001
Operating expenses	29,762	29,776
Earnings from operations	59,777	56,225
Other income	67	513
Earnings before income tax expense	59,844	56,738
Income tax expense	19,839	17,973
Net earnings	$ 40,005	$ 38,765
Diluted net earnings per common share	$ 1.32	$ 1.28
Shares used in the calculation of diluted net earnings per common share	30,353	30,244

Record Quarterly Sales & Net Earnings

For the quarter ended December 31, 2012, the company achieved record quarterly net sales of $80.1 million, which is an increase of approximately 15% above the $69.7 million result of the prior year comparative quarter. Record fourth quarter net earnings were achieved of $9.9 million, an increase of $0.4 million, or 4.2% as compared with the same period last year. The $9.9 million generated diluted net earnings of $0.33 per common share versus $0.31 per common share for the prior year comparable period, an increase of 6.5%.

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