Aceto Corp.
Pharmaceutical distributor reports income of $0.11 per share
Published in Healthcare Mergers, Acquisitions and Ventures Week, October 15th, 2005
Net sales for the fourth quarter were $73.7 million, compared to $76.1 million in the fourth quarter of fiscal year 2004, due to reduced sales of two active pharmaceutical ingredients (APIs) as a result of intense competition. (Aceto disclosed reduced sales of these APIs in its December 2004 and March 2005 quarterly reports).
Sales for those two products in the fourth quarter of fiscal year 2004 were $10.0 million, compared with zero in the fourth quarter of fiscal year 2005. Fourth-quarter results were also adversely affected by a $0.9 million...
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