American Pacific Reports Fiscal 2008 Results; Net Income Inc...( LAS VEGAS Dec. 11 /- American Pacific...),Health

LAS VEGAS, Dec. 11 /PRNewswire-FirstCall/ -- American Pacific Corporation (Nasdaq: APFC) today reported financial results for its fiscal 2008 fourth quarter and year ended September 30, 2008.

We provide non-GAAP measures as a supplement to financial results based on GAAP. A reconciliation of the non-GAAP measures to the most directly comparable GAAP measures is included in the accompanying supplemental data.

FINANCIAL HIGHLIGHTS

Quarter Ended September 30, 2008 Compared to Quarter Ended September 30, 2007

    -- Revenues increased 15% to $71.2 million from $61.7 million.
    -- Operating income increased 3% to $9.9 million compared to $9.6 million.
    -- Adjusted EBITDA decreased to $14.1 million compared to $14.9 million.
    -- Net income increased 19% to $4.3 million from $3.6 million.
    -- Diluted earnings per share was $0.57 compared to $0.48.


    Year Ended September 30, 2008 Compared to Year Ended September 30, 2007

    -- Revenues increased 10% to $203.1 million from $183.9 million.
    -- Operating income increased 4% to $24.9 million compared to
       $23.9 million.
    -- Adjusted EBITDA decreased to $42.8 million compared to $44.0 million.
    -- Net income increased 80% to $9.0 million from $5.0 million.
    -- Diluted earnings per share was $1.18 compared to $0.67.

The prior year includes a charge of $0.24 per diluted share related to our refinancing activities in February 2007.

CONSOLIDATED RESULTS OF OPERATIONS

Revenues -- For our fiscal 2008 fourth quarter, revenues increased 15%, reflecting a 40% increase in Fine Chemicals segment revenues offset by a 17% decrease in Specialty Chemicals segment revenues. Our revenues increased 10% in fiscal 2008 primarily due to a 19% increase in revenues for our Fine Chemicals segme
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