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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Phibro Animal S | PAHC | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 5.225 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 5.225 | 5.225 |
| Top Posts |
|---|
Posted at 16/5/2008 07:22 by papalpower RNS Number : 6024UPhibro Animal Health Corporation 16 May 2008 For additional information contact: Richard G. Johnson, Chief Financial Officer, +1-201-329-7300 or Investor.Relations@p PHIBRO ANIMAL HEALTH CORPORATION REPORTS 22% REVENUE GROWTH FOR ITS MARCH 2008 FISCAL THIRD QUARTER RIDGEFIELD PARK, New Jersey, May 16, 2008 - Phibro Animal Health Corporation ('PAHC' or the 'Company') announced its operating results for its fiscal third quarter ending March 31, 2008. Quarterly sales of $132 million increased $24 million, or 22%, led by volume increases in the Animal Health & Nutrition business. Adjusted ebitda (earnings before interest, taxes and depreciation and amortization) of $11.7 million increased $2.5 million, or 25%, in line with sales growth. Adjusted ebitda excludes $15.2 million of one-time costs related to the recent equity transactions. After including the one-time costs and interest and income taxes, the Company reported a $12.3 million net loss for the quarter. Animal Health & Nutrition Sales of $108.5 million increased $22.3 million or 26%, due to volume growth in most product lines and markets and also due to increased pricing to offset raw material cost increases. Adjusted ebitda of $13.1 million increased $1.4 million, or 12%, as the volume increases were partially offset by higher manufacturing costs due to the strengthening of the Brazilian Real against the U.S. dollar and by increased sales force headcount. Performance Products Distribution sales of $15.3 million increased $1.8 million, or 13%, primarily from volume growth. Adjusted ebitda of $3.6 million improved $0.4 million on the sales increase. Industrial Chemicals sales of $8.5 million were slightly below last year. The Company began marketing its new Sustain™ wood preservative product during the quarter. Increased sales of the new product were offset by reductions in legacy product lines. Adjusted ebitda was a loss of $0.6 million, but an improvement of $1.1 million compared with last year, due to the improved product mix and legal expenses incurred last year in defense of intellectual property related to the wood preservative market. For further information, the Company's quarterly report is available on our website in the Investor Relations section at www.pahc.com. Forward-Looking Statements This announcement contains forward-looking statements, including statements regarding management's expectations and beliefs regarding the future results or performance of the Company. Because these statements apply to future events, they are subject to risks and uncertainties. When used in this announcement, the words 'anticipate,' 'believe,' 'estimate,' 'expect,' 'expectation,' 'project' and 'intend' and similar expressions are intended to identify such forward-looking statements. Our actual results could differ materially from those projected in the forward-looking statements. Additionally, you should not consider past results to be an indication of our future performance. We do not intend to update any of the forward-looking statements after the date of this announcement to conform these statements to actual results, to changes in management's expectations or otherwise, except as may be required by law. About The Company PAHC is a diversified global manufacturer and marketer of a broad range of animal health and nutrition products to the poultry, swine and cattle markets. PAHC is also a manufacturer and marketer of performance products for the ethanol, wood preservation and personal care industries. For more information, please visit www.pahc.com. For more information: Phibro Animal Health Corporation Richard Johnson, Chief Financial Officer Investor.relations@p +1 201 329 7300 Panmure Gordon (UK) Limited Andrew Godber Rakesh Sharma +44 (0) 20 7459 3600 |
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