Synthetech Announces Fiscal 2009 Results

Synthetech has announced financial results for its fiscal fourth quarter and fiscal year, which ended March 31, 2009. For the fourth quarter ended March 31, 2009, revenue was $6.6 million, a 45% increase from revenue of $4.6 million for the same period last year.

Gross income for the current quarter was $2.0 million, compared to gross income of $1.1 million for the same period last year. Operating income for the current quarter was $704000 compared to $128000 for the same period last year. Net income for the fourth quarter ended March 31, 2009 was $657000, or $0.04 per share, compared to $113000 or $0.01 per share, in last year’s corresponding period.

The Company reported revenue of $19.9 million for fiscal 2009, a 36% increase from revenue of $14.6 million in fiscal 2008. Gross income in fiscal 2009 was $5.5 million, compared to gross income in fiscal 2008 of $2.9 million. Net income for fiscal 2009 was $1.2 million, or $0.08 per share, compared to a net loss for fiscal 2008 of $1.2 million, or $0.08 per share.