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
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
"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."
Balchem Corporation consists of three business
- 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
- BCP Ingredients manufactures and supplies choline
chloride and derivatives used primarily in the poultry and swine industries.
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