Aceto’s Profits Falls on Weak Crop Protection Sales

Fine chemicals distributor Aceto (Lake Success, NY) reported net income of $900,000 for its fiscal second quarter ended December 31, 2007, a 48% decline over the year-ago period, on sales up 2%, to $77.1 million. Aceto attributes the decline in profits to a 48.5% decline in crop protection revenues and a 7.5% increase in expenses. Its other segments fared better. Chemicals and colorants reported a 4.6% sales increase due to higher pigment and other intermediates sales, and an increase in chemicals used in aroma products. Those gains were partially offset by a...

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