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Cambrex Reports Fourth Quarter And Full Year 2012 Financial Results
Date:2/6/2013

EAST RUTHERFORD, N.J., Feb. 6, 2013 /PRNewswire/ -- Cambrex Corporation (NYSE: CBM) reports results for the fourth quarter and full year ended December 31, 2012.

Highlights- Fourth quarter sales increased by 4.8% and excluding the impact of foreign currency, sales increased 5.7% compared to the fourth quarter of 2011.  Full year sales increased by 9.2% and increased 12.6% excluding the impact of foreign currency. 

- Fourth quarter EBITDA increased 12.4% to $13.1 million compared to $11.6 million in the fourth quarter of 2011.  Full year EBITDA increased 22.4% to $57.5 million compared to $46.9 million in 2011. 

- Debt, net of cash was $40.4 million at the end of the fourth quarter, an increase of $6.0 million during the quarter.  Debt, net of cash, improved $25.6 million for the full year 2012.

- 2013 sales are expected to increase 8% to 12% compared to 2012, excluding the impact of foreign currency, and EBITDA is expected to increase 8% to 18% to between $62 and $68 million.

"We are pleased with our strong financial results for both the fourth quarter and full year 2012, and look forward to an even stronger 2013," commented Steven M. Klosk, President and Chief Executive Officer of Cambrex.  "Sales increased across all key product categories and EBITDA and cash generation improved significantly year over year.

"We expect 2013 to be our third consecutive year of increased sales and EBITDA and we will be making important capital investments to support continued growth, including a large Phase 3 supply agreement signed during 2012 as well as initiatives in other important product categories.  We continue to be positive about the overall market trends and momentum we see for the business in the current year."

Fourth Quarter 2012 Operating Results – Continuing Op
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SOURCE Cambrex Corporation
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