Synthetech Announces Fiscal 2008 Results(ear of increasing sales and our strong e...)

Date:6/4/2008

ear of increasing sales and our strong end-of year backlog points to a positive start for fiscal 2009. We continue to plan for growth by increasing our sales efforts and R&D and manufacturing capabilities as permitted. In May 2008, we borrowed $550,000 to expand Synthetech's large-scale reactor capacity and to install a distillation column, in order to meet increased customer demand and permit the recycling of certain spent solvents for cost and waste reduction. I am excited to see Synthetech expanding its production capacity in response to expanding market opportunities."

Management anticipates that Synthetech's revenue will continue to be volatile from period to period. Variability in Synthetech's level of revenue is based primarily on its participation in large-scale customer projects and the timing of shipments arising from these projects. Synthetech operates in a challenging business environment, characterized by the unpredictable dynamics and life cycle of pharmaceutical projects, which can lead to rapid fluctuations in the mix of projects and revenues. As the uncertainties inherent in drug development projects remain outside of Synthetech's control, it is difficult to predict the progress, timing and revenue potential of these projects.

About Synthetech

Synthetech, Inc. is a fine chemicals company specializing in organic synthesis, biocatalysis and chiral technologies. Synthetech develops and manufactures amino acid derivatives, specialty amino acids, peptide fragments, proprietary custom chiral intermediates and specialty resins, primarily for the pharmaceutical industry. Synthetech's products support the development and manufacture of therapeutic peptides and peptidomimetic small molecule drugs at every stage of a customer's clinical development pipeline, and are used as ingredients in drugs for the treatment of AIDS, cancer, cardiovascular and other diseases.

Forward-Looking Statements

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SOURCE Synthetech, Inc. Copyright©2008 PR Newswire. All rights reserved

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