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Balchem Corporation reports record sales

Record net sales of $27.6 million were achieved for the quarter ended March 31, 2007. This is an increase of 12.2% above the $24.6 million result of the prior year comparable quarter and was derived from both organic and acquisition growth.

Record net earnings for the first quarter were $3.4 million, an increase of $0.6 million, or 20.4% as compared with the same period last year.

Commenting on 2007, Dino A. Rossi, President and CEO of Balchem, said "We are very pleased with the overall performance of the business. The results derived from the CMC acquisition highlights one of our recent acquisitions and successful strategic initiatives, and allows us to build off of our strong base of technology and business.

"Choline products, both human and animal, are developing very nicely, and are now further complemented by the recently announced acquisitions of certain Chinook and Akzo Nobel assets.

"Consistent with our plan, we continue to invest in our pharmaceutical initiative, where we spent approximately $0.2 million in the quarter. We look to 2007 with strong double digit growth expectations from the core and acquired businesses, including continued spending toward our pharmaceutical objectives, for both sales and earnings."

Segment information
Balchem Corporation consists of three business segments:

  • ARC Specialty Products, which provides specialty-packaged chemicals for use in healthcare and other industries;
  • Encapsulated/Nutritional Products segment provides proprietary microencapsulation and agglomeration solutions to a variety of applications in the food, pharmaceutical, human and animal nutrition marketplaces, and
  • BCP Ingredients manufactures and supplies choline chloride and derivatives used primarily in the poultry and swine industries.

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