Cambrex Posts Loss On Pricing, Cost Issues

Cambrex reported a net loss of $697,000 for the fourth quarter ended December 31, 2008. The company posted a net profit of $265,000 in the year-ago period. Sales in the 2008 quarter fell 6.6%, to $65.2 million. Operating profit decreased 48%, to $2.1 million. Gross margin decreased to 24.6% of sales, from 34.9% during the fourth quarter of 2007. Foreign currency unfavorably impacted gross margin by 0.2%, Cambrex says. The lower margins were driven by lower pricing mainly for a gastro-intestinal active pharmaceutical ingredient (API), increased bad debt reserves...

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