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Synthetech Reports First Quarter Fiscal 2010 Results
Date:8/6/2009

s working capital was $7.0 million at June 30, 2009, compared to $5.9 million at March 31, 2009.



                                 Synthetech, Inc.
                      Condensed Statements of Operations
                                   (unaudited)

                                            First Quarter Ended June 30,
     (in thousands, except per share data)   2009                2008
                                             ----                ----

    Revenue                                $4,664              $4,917
    Cost of revenue                         2,653               3,628
                                            -----               -----

    Gross income                            2,011               1,289

    Research and development                  303                 297
    Selling, general and administrative       702                 678
                                              ---                 ---
      Total operating expense               1,005                 975
                                            -----                 ---

    Operating income                        1,006                 314

    Interest income                             3                   5
    Interest expense                          (40)                (24)
                                              ---                 ---

    Income before income taxes                969                 295
    Income taxes                                -                   -
                                              ---                 ---
    Net income                               $969                $295
                                             ====                ====

    Basic income per share                  $0.07               $0.02
                                            =====               =====
    Diluted income per share                $0.06               $0.02
    
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SOURCE Synthetech, Inc.
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