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Cambrex Reports First Quarter of 2011 Results
Date:5/5/2011

antly higher year over year.  In addition to the increases in sales volumes for some of our larger custom manufacturing products, we continue to see strong orders for our generic APIs.  Cambrex Zenara is off to a positive start and has been asked to increase production as part of their customer's launch of a leading nicotine replacement therapy product in India."

Guidance – Continuing OperationsThe Company continues to expect that sales for 2011, excluding the impact of foreign currency, will increase between 3% and 7% versus 2010, and that full year 2011 EBITDA will be between $43 and $49 million.  EBITDA guidance is for continuing operations and excludes the impact of any M&A or restructuring activities.  The above guidance does not reflect Cambrex Zenara, which is accounted for using the equity method, and as such is not consolidated into the Company's results.  Cambrex's income statement reflects 51% of Cambrex Zenara's net results as Equity in Losses of Partially-Owned Affiliate.  For 2011, Cambrex Zenara is expected to have revenues in the low to mid single digit millions and a small EBITDA loss.

Capital expenditures are expected to be approximately $14 to $17 million and depreciation is expected to be $21 to $23 million in 2011.

The financial information contained in this press release is unaudited, subject to revision and should not be considered final until the Company's first quarter 2011 Form 10-Q is filed with the SEC.

Conference Call and WebcastThe Conference Call to discuss first quarter of 2011 results will begin at 8:30 a.m. Eastern Time on Friday, May 6, 2011 and last approximately 45 minutes.  Those wishing to participate should call 1-888-299-7230 for domestic and +1-719-325-2168 for international.  Please use the pass code 7839366 and call approximately 10 minutes prior to start time.  A webcast is available from the Investors section on the Cam
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