EAST RUTHERFORD, N.J., Aug. 1, 2012 /PRNewswire/ -- Cambrex Corporation (NYSE: CBM) reports second quarter results for the period ended June 30, 2012.
Second Quarter of 2012 Operating Results
Sales in the second quarter of 2012 of $77.1 million were 14.3% higher than the second quarter of 2011. Foreign exchange unfavorably impacted sales by 5.9%. The increase is primarily due to higher volumes of controlled substances and generic active pharmaceutical ingredients ("APIs").
Gross margins in the second quarter of 2012 increased to 36.9% from 28.2% in the second quarter of 2011. Foreign currency favorably impacted second quarter 2012 margins by 1.5%. The increase is due to higher production volumes, leading to increased plant efficiencies and favorable product mix.
Selling, General and Administrative Expenses in the second quarter of 2012 were $12.0 million compared to $9.2 million in the same period last year. The increase is primarily the result of increased personnel related expenses, accruals for higher annual incentiv
|SOURCE Cambrex Corporation|
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