NEW HAMPTON, N.Y., May 3, 2013 (GLOBE NEWSWIRE) -- Balchem Corporation (Nasdaq:BCPC) reported as follows (unaudited) for the period ended March 31, 2013.
|($000 Omitted Except for Net Earnings per Share)|
|For the Three Months Ended March 31,|
|Earnings from operations||15,865||13,675|
|Other expense (income)||2||(13)|
|Earnings before income tax expense||15,863||13,688|
|Income tax expense||4,975||4,420|
|Diluted net earnings per common share||$0.36||$0.31|
|Shares used in the calculation of diluted net earnings per common share||30,622||30,334|
Record Quarterly Sales & Net Earnings
For the quarter ended March 31, 2013, the company achieved record quarterly net sales of $84.7 million, which is an increase of approximately 11% above the $76.2 million result of the prior year comparative quarter. Record quarterly net earnings were achieved of $10.9 million, an increase of $1.6 million, or 17.5% as compared with the same period last year. The $10.9 million generated diluted net earnings of $0.36 per common share versus $0.31 per common share for the prior year comparable period, an increase of 16.1%.