Aceto Corporation Announces Earnings Guidance Substantially Higher Than Prior Year's Earnings (2002)Full Document 

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                  ACETO CORPORATION ANNOUNCES EARNINGS GUIDANCE
                SUBSTANTIALLY HIGHER THAN PRIOR YEAR'S EARNINGS


LAKE SUCCESS, NEW YORK, DECEMBER 5, 2002 - - ACETO CORPORATION (NASDAQ: ACET), a
global distributor of pharmaceuticals and specialty chemicals, announced today
during the webcast of its business presentation during its annual shareholders
meeting that it expects earnings for its fiscal year ending June 30, 2003 to be
in excess of $1.11 per diluted share, before giving effect to any non-cash
goodwill impairment charges, which represents an increase of $0.36 per diluted
share and a 48% increase in earnings over the previous year. This marks the
first time that the Company has provided earnings guidance.

During today's presentation, Leonard S. Schwartz, the Company's Chairman, Chief
Executive Officer and President, stated that, "We expect earnings for our
quarter ending December 31, 2002 to be in excess of $0.26 per diluted share,
before any non-cash goodwill impairment charges relating to our sanitary supply
business. This represents an increase of $0.07 in earnings per diluted share, or
a 37% increase over the same period last year. While it is difficult to forecast
the timing of the introduction of new products, we expect that our earnings for
the quarters ending March 31, 2003 and June 30, 2003 to contribute $0.25 per
diluted share per quarter without any contribution from new product
introductions".

In accordance with the adoption of Statement of Financial Accounting Standards
No. 142, the Company may take a non-cash goodwill impairment charge related to
its sanitary supply business in the quarter ended December 31, 2002. The precise
amount of the charge, if any, is not yet known. If taken, the charge could
materially effect the above guidance and would be recorded as a cumulative
effect of a change in accounting principle in the Company's statement of

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