The Company continues to expect that sales, net of the impact of foreign currency, will increase between 2% and 6% in 2009 compared to 2008, and that Adjusted EBITDA will be between $42 and $49 million. Adjusted EBITDA for guidance purposes excludes the impact of any potential M&A, restructuring, or strategic alternatives expenses. Considering the current macro-economic environment, the Company continues to believe that there is a high level of uncertainty regarding sales and profit forecasts for 2009, especially as it pertains to the Company's custom development sales to support our customers' clinical trials.
For 2009, capital expenditures are expected to be approximately $13 to $16 million and depreciation is expected to be $20 to $22 million. The Company currently expects restructuring and strategic alternatives expenses for 2009 to be minimal.
The financial information contained in this press release is unaudited, subject to revision and should not be considered final until the first quarter 2009 Form 10-Q is filed with the SEC.
Conference Call and Webcast
The Conference Call to discuss first quarter 2009 results will begin at 8:30 a.m. Eastern Time on Wednesday, May 6, 2009 and last approximately 45 minutes. Those wishing to participate should call 1-888-634-4003 for domestic and +1-706-634-6653 for international. Please use the pass code 97216999 and call approximately 10 minutes prior to start time. A webcast is available from the Investors section on the Cambrex website located at www.cambrex.com and can be accessed for 30 days following the conference call.
|SOURCE Cambrex Corporation|
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