Finance

Synthetech reports 2006 revenues down 40% to $5.8 million due to slowdowns, cancellations

Published in Drug Week, May 26th, 2006

Synthetech announced revenues of approximately $5.8 million for its fiscal year ended March 31, 2006, a 40% decrease from fiscal 2005 revenues of $9.8 million.

This low point in revenues in recent years was primarily due to slowdowns and some cancellations in large-scale orders for key development pipeline and launched projects of pharmaceutical customers. Cash, cash equivalents and marketable securities were approximately $2 million at March 31, 2006.

Management anticipates that Synthetech's revenue will continue to be volatile from period to period. Variability in Synthetech's level of revenue is based primarily on the company's participation in...

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Source: Drug Week (2006-05-26)

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