Guidance – Continuing OperationsThe Company continues to expect that sales for 2011, excluding the impact of foreign currency, will increase between 3% and 7% versus 2010, and that full year 2011 EBITDA will be between $43 and $49 million. EBITDA guidance is for continuing operations and excludes the impact of any M&A or restructuring activities. The above guidance does not reflect Cambrex Zenara, which is accounted for using the equity method, and as such is not consolidated into the Company's results. Cambrex's income statement reflects 51% of Cambrex Zenara's net results as Equity in Losses of Partially-Owned Affiliate. For 2011, the Company continues to expect Cambrex Zenara to have revenues in the low to mid single digit millions and a small EBITDA loss.
Capital expenditures are expected to be approximately $14 to $17 million and depreciation is now expected to be $22 to $24 million in 2011, a $1 million increase over prior guidance due to foreign exchange.
The financial information contained in this press release is unaudited, subject to revision and should not be considered final until the Company's second quarter 2011 Form 10-Q is filed with the SEC.
Conference Call and WebcastThe Conference Call to discuss second quarter of 2011 results will begin at 8:30 a.m. Eastern Time on Wednesday, August 3, 2011 and last approximately 45 minutes. Those wishing to participate should call 1-888-471-3840 for domestic and +1-719-457-2647 for international. Please use the pass code 1438939 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. A telephone replay of the conference call will be available th
|SOURCE Cambrex Corporation|
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