Last10K.com

Accellent Inc (1342505) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2009

Accellent Inc

CIK: 1342505

Exhibit 99.1

Investor Contact: Jeremy Friedman

Executive Vice President and Chief Financial Officer

978 570 6900

Jeremy.friedman@accellent.com

FOR IMMEDIATE RELEASE

Accellent Inc. Announces Fourth Quarter and Full Year 2009 Results

Wilmington, MA (March 31, 2010) – Accellent Inc. (the “Company”), a wholly owned subsidiary of Accellent Holdings Corp. (“Accellent”), today announced results for its fiscal fourth quarter and full year ended December 31, 2009.

“We improved profitability performance in 2009 despite a weak economy. Full year EBITDA increased 6% to $109.8 million and improved to 22.9% of net sales compared with 19.8% in 2008,” said Jeremy A. Friedman, Executive Vice President and CFO of Accellent. “Building on operating improvements which increased profitability in 2009, we are also encouraged by end-user markets that appear to be stabilizing and improving.”

“Our team has achieved record profitability while managing through the significant economic downturn in 2009,” said Kenneth W. Freeman, Executive Chairman and Acting Chief Executive Officer. “We are well positioned to achieve our long-term strategic objectives.”

Fourth Quarter 2009 Financial Results

Net sales decreased 12.1% to $110.8 million in the fourth quarter of 2009 compared with $126.0 million in the fourth quarter of 2008. Income from operations was $13.4 million in the fourth quarter of 2009, compared to a $16.2 million in the fourth quarter of 2008. Our net income was $0.4 million in the fourth quarter of 2009, compared with a net loss of $3.5 million in the fourth quarter of 2008.

Adjusted EBITDA for the fourth quarter of 2009 was $25.6 million, or 23.1% of net sales, compared to Adjusted EBITDA of $25.4 million, or 20.2% of net sales, in the fourth quarter of 2008.

Reconciliations of non-GAAP financial measures to GAAP financial measures are provided in the financial information accompanying this press release.


The following information was filed by Accellent Inc on Wednesday, March 31, 2010 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Accellent Inc'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-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Accellent Inc.

Continue

Assess how Accellent Inc's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Accellent Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2010 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue