EAST RUTHERFORD, N.J., Feb. 14 /PRNewswire-FirstCall/ -- Cambrex
Corporation (NYSE: CBM) reports fourth quarter and full-year 2007 results
for the period ended December 31, 2007.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000613/CAMBREXLOGO )
-- Fourth quarter 2007 sales increased 5.7% (-0.2% excluding foreign
currency) compared to fourth quarter 2006. Full year sales were up
6.7% (2.0% excluding foreign currency) compared to 2006.
-- Gross Margin for the quarter increased to 34.9% of sales compared to
33.5% last year. Full year Gross Margin increased to 36.1% compared
to 35.4% in 2006.
-- Operating Profit before corporate, strategic alternatives and
restructuring expenses was $13.3 million or 19.1% of sales in the
fourth quarter of 2007 versus $12.9 million or 19.6% last year. For
the full year, Operating Profit before corporate, strategic
alternatives and restructuring expenses was $51.1 million or 20.2% of
sales, versus $49.2 million or 20.8% for 2006.
-- Debt, net of cash, was $63.3 million at the end of 2007.
-- Sales growth for 2008 is expected to be between 5% and 10% and
Adjusted EBITDA (EBITDA before restructuring and strategic
alternatives costs) is expected to be between $53 and $57 million.
Discontinued Operations and Basis of Reporting
As previously reported, Cambrex sold its Bioproducts and Biopharma
businesses (the "Bio Businesses") to Lonza for $463.9 million (after
working capital adjustments) in February 2007 and sites in Cork, Ireland
and Landen, Bel
|SOURCE Cambrex Corporation|
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