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Aceto's fiscal Q2 miss pressures shares, down 27% [Seeking Alpha]

ACETO (ACET)  More Company Research Source: Seeking Alpha
Last aceto earnings: 5/3 05:00 pm Check Earnings Report
US:NASDAQ Investor Relations: aceto.com/ir/index.html
PDF Aceto's fiscal Q2 miss pressures shares, down 27%Thinly traded micro cap Aceto Corp. (ACET-26.9%) slumps on more than triple normal volume after announcingfiscal Q2 results and softer guidance after the close yesterday. Earnings and revenue both missed consensus.Net sales: $171.2M (+36.3%); net loss: ($13.9M) (-999%); non-GAAP net income: $7.6M (+4.7%); loss/share: ($0.39) (-999%); non-GAAP EPS: $0.22 (-8.3%).CEO William Kennally III says, “As we look to the second half of fiscal 2018, our operating assumption is the generic industry headwinds will not ease in the near term and we now have greater clarity on the impact of harmonization from customer consolidations. Adverse market conditions are impacting the sales, profitability and market share of certain Rising products to a greater degree than anticipated and a number of API projects which were scheduled to be monetized in the second half of the year have been discontinued. As a result of these factors, although we remain on track [Read more]

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