Rochester, NY 9/1/2009 7:08:19 PM
Aceto Corp., ACET, Down by 1.47% Last Trading
Aceto Corp.
Aceto Corporation announced that it expects to earn approximately $0.06 per diluted share in the third quarter of 2008. According to Reuters Estimates, analysts were expecting the Company to report $0.12 in third quarter of 2008. With respect to the issue of providing quarterly guidance, the Company has made a decision that beginning in the first quarter of 2009 it will no longer be providing earnings guidance.
The reason behind decision is the fact that as a public Company, primary objective is to manage the Company with objective of continually increasing long-term shareholder value. The Company don’t want to become distracted into managing the Company to meet, or exceed, these short-term quarterly guidance targets, which could possibly lead to decisions that would benefit the Company in the short-term at the expense of the long-term enhancement of shareholder value.
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Last Trade: 6.69
Day's Range: 0.00 - 11.70
52wk Range: 2.63 - 6.28
Change: 0.00 (0.00%)
Volume: 0
Avg Vol (3m): 138,731
ABOUT Aceto Corporation
Aceto Corporation (Aceto) is engaged in the sourcing, quality assurance, regulatory support, marketing and distribution of chemically derived pharmaceuticals, biopharmaceuticals, specialty chemicals and crop protection products. The Company operates in three segments: Health Sciences, Chemicals and Colorants, and Crop Protection. During the fiscal year ended June 30, 2008 (fiscal 2008), approximately 67% of the Company’s purchases were from Asia and approximately 19% were from Europe. The Company has operations in China, Germany, France, the Netherlands, Singapore, India, Poland, Hong Kong, Japan, the United Kingdom and the United States.
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