Aceto Corp. Announces Consolidated Unaudited Earnings Results for Third Quarter and Nine Months Ended March 31, 2016; Provides Earnings Guidance for the Fourth Quarter of Fiscal 2016
For the year to date, the company reported net sales of $423,100,000, operating income of $46,081,000, income before income taxes of $43,620,000, net income of $27,992,000 or $0.95 diluted per share compared to net sales of $400,364,000, operating income of $34,725,000, income before income taxes of $31,756,000, net income of $19,847,000 or $0.68 diluted per share for the same period a year ago. Adjusted net income was $34,138,000 or $1.16 diluted per share against $24,868,000 or $0.85 diluted per share for the same quarter a year ago.
For the fourth quarter of 2016, the company remain on track with its previous guidance for fiscal 2016 and expects to achieve a low single-digit increase in net sales, a high single-digit to low double-digit increase in net income on a GAAP basis, and low double-digit growth on a non-GAAP adjusted basis.