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Aceto earnings rise on strong pharma business

3:32 PM MDT | August 28, 2013 | Vincent Valk

Aceto’s (Port Washington, NY) fiscal fourth-quarter net income was up 35.7% year-on-year (YOY), to $5.4 million, or 19 cts/share, on sales up 11%, to $123.1 million, the company says. Adjusted net income totaled $5.6 million, or 20 cts/share, matching analysts’ consensus estimate as reported by Thomson Reuters (New York). Aceto’s fiscal fourth-quarter ended on 30 June. Sales increased in the company’s human health business, on new generic product launches and higher sales of nutritional supplements. Performance chemicals and pharmaceutical...

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