May 15 2012
Accellent Inc. (the "Company" or "Accellent"), a wholly owned subsidiary
of Accellent Holdings Corp., today announced results for its fiscal
first quarter ended March 31, 2012.
First Quarter 2012 Financial Results
Net sales increased 1.3% to $131.6 million in the first quarter of 2012
compared with $129.9 million in the first quarter of 2011. Income from
operations was $11.0 million in the first quarter of 2012, compared with
$13.0 million in the first quarter of 2011. Net loss was $7.0 million in
the first quarter of 2012, compared with a net loss of $8.2 million in
the first quarter of 2011.
Adjusted EBITDA for the first quarter of 2012 was $23.0 million, or
17.5% of net sales, compared to Adjusted EBITDA of $23.8 million, or
18.4% of net sales, in the first quarter of 2011.
"We returned to year over year top-line growth in the first quarter,
despite a continued soft market," stated Donald Spence, President and
CEO of Accellent. "Revenue increased 1.3% in the first quarter; however
our profitability declined compared to last year. I remain optimistic
that we are creating the necessary changes in our business to succeed
both in today's challenging market and also in the long-term."