For the third quarter Aceto posted earnings of 19 cents a share, missing the Capital IQ Consensus Estimate of 28 cents a share by 9 cents. Revenue fell -17.3% year-over-year to $124.8 million for the quarter. Analysts expected revenue of $136.7 million for the quarter.
"The third quarter of fiscal 2014 earnings performance was below that achieved last year primarily as a result of quarterly timing," Aceto CEO Sal Guccino said in a press release.
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TheStreet Ratings team rates ACETO CORP as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate ACETO CORP (ACET) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company shows low profit margins."