Exhibit 99.1

 

Investor Contact: Stewart A. Fisher

Media Contact Information: Nanette Pietroforte

EVP and CFO

FischerHealth, Inc.

(610) 409-2225

(310) 577-7870, ext. 161

stewart.fisher@accellent.com

npietroforte@fischerhealth.com

 

For Immediate Release

 

Accellent Corp. Announces Second Quarter Financial Results

 

Newton, MA. (August 1, 2005)

– Accellent Corp., formerly Medical Device Manufacturing, Inc. (the “Company”), a wholly owned subsidiary of Accellent Inc., announced strong results for the three months and six months ended June 30, 2005, reflecting contributions from its acquisition of MedSource Technologies, Inc. on June 30, 2004  and continued strong organic growth.

 

Second Quarter Financial Results

 

Net sales for the second quarter of 2005 increased 90% to $114.7 million compared with $60.3 million in the corresponding period of 2004.  The acquisition of MedSource increased net sales by $43.9 million in the second quarter of 2005.  Net income for the second quarter of 2005 was $5.9 million compared to net loss in the corresponding period of 2004 of $4.4 million.  Adjusted EBITDA (1) for the second quarter of 2005 was $25.0 million compared to $11.0 million in the corresponding period of 2004.  Reconciliations of non-GAAP financial measures to GAAP financial measures are provided in the financial statements accompanying this press release.

 

Six Months Financial Results

 

Net sales for the six months ended June 30, 2005 increased 99% to $223.6 million compared with $112.1 million in the corresponding period of 2004.  The acquisition of MedSource increased net sales by $89.8 million for the six months ended June 30, 2005.  Net income for the six months ended June 30, 2005 was $9.1 million compared to net loss in the corresponding period of 2004 of $2.0 million.  Adjusted EBITDA for the six months ended June 30, 2005 was $45.0 million compared to $20.5 million in the corresponding period of 2004.

 

Pro Forma Financial Results (2)

 

Second Quarter Pro Forma Financial Results

 

Net sales for the second quarter of 2005 increased 6% to $114.7 million compared with pro forma net sales of $108.3 million in the corresponding period of 2004, reflecting growth in the Company’s targeted cardiovascular, endoscopic and orthopaedic markets.  The impact of the Company’s facility rationalization program, which included the closing

 

1


The following information was filed by Accellent Corp. on Monday, August 1, 2005 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Accellent Corp.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Accellent Corp..

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account