Aceto Q4 net sales up 41.4%

Sourcing, quality assurance, regulatory support, marketing and distribution company say economy "sti

Aceto has reported net sales of $105.77m for the fourth quarter ended 30 June 2010, an increase of 41.4%, compared to $74.79m for the comparable period in 2009.

Aceto has posted a net income of $4.24m for the fourth quarter 2010, or $0.17 per diluted share, compared to net income of $1.05m, or $0.04 per diluted share, for the comparable period in 2009.

Operating income for the fourth quarter ended 30 June 30 2010 was $5.43m, compared to $1.03m for the comparable period in 2009.

For the full year ended 30 June 2010 Aceto has posted net sales of $346.63m for the 12 months, compared to $322.65m for the year ago period.

For the full year ended 30 June 2010 Aceto has posted a net income of $6.58m, or $0.26 per diluted share, compared to $8.63m, or $0.35 per diluted share, for the year ago period.

Operating income for the full year ended 30 June 2010 was $9.44m, compared to $11.89m for the year ago period.

Aceto Board member Eilender said that with the economic conditions still unsettled, the board felt that it was incumbent to put in-place and institute a more dynamic approach to seeking growth and profitability through pursuit of opportunities both from internal and external sources, while maintaining an unwavering concentration on the core business.

Aceto is engaged in the sourcing, quality assurance, regulatory support, marketing and distribution of specialty chemicals, pharmaceuticals and nutraceuticals.