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Cambrex Reports Second Quarter 2009 Results
Date:8/4/2009

uarter 2009 were $6.4 million and $4.7 million compared to $20.4 million and $5.3 million in the second quarter 2008, respectively. The decrease in capital expenditures is largely due to second quarter 2008 spending on two large capital projects for which the majority of work has since been completed.

Guidance

The Company currently expects that sales for 2009, excluding the impact of foreign currency, will be between a decline of 2% and an increase of 2% versus 2008, compared to prior guidance of a 2% to 6% increase. EBITDA is currently expected to be between $43 and $48 million compared to a prior range of $42 to $49 million. EBITDA for guidance purposes excludes the impact of any potential M&A, restructuring, or strategic alternatives expenses. As mentioned earlier in this release, the Company continues to see soft demand for its custom development services and recent order trends for generic APIs suggest that sales of those APIs during the second half of the year may be lower than previously expected. Ongoing cost reductions are expected to mitigate potentially lower sales volumes during the second half of the year.

For 2009, capital expenditures are expected to be approximately $13 to $16 million and depreciation is expected to be $20 to $22 million. The Company currently expects restructuring and strategic alternatives expenses for 2009 to be minimal.

The financial information contained in this press release is unaudited, subject to revision and should not be considered final until the second quarter 2009 Form 10-Q is filed with the SEC.

Conference Call and Webcast

The Conference Call to discuss second quarter 2009 results will begin at 8:30 a.m. Eastern Time on Wednesday, August 5, 2009 and last approximately 45 minutes. Those wishing to participate should call 1-888-634-4003 for domestic and +1-706-634-6653
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SOURCE Cambrex Corporation
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