Aceto sees 24.1% rise in Q1 net sales

Aceto has posted a net income of $2.8m for the first quarter 2010, or $0.11 per diluted share, compared to $1m, or $0.04 per diluted share, for the comparable period in 2009.

Operating income was $3.69m, compared to $1.68m for the comparable period in 2009.

Aceto chairman and CEO Albert Eilender said that all three of their business segments showed nice sales growth during the quarter.

"During the quarter, sales in our Health Sciences segment increased 12.6% from the 2010 comparable quarter, largely the result of increased sales in both our domestic and international operations," Eilender said.

"The increase domestically can be attributed to increases in both our domestic generics and domestic pharmaceutical intermediates product groups."

Aceto is a company engaged in the sourcing, quality assurance, regulatory support, marketing and distribution of pharmaceuticals, nutraceuticals and specialty chemicals.