Please wait while we load the requested 10-K report or click the link below:
Investor Contact: Jeremy Friedman
Executive Vice President and Chief Financial Officer
978 570 6900
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 this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were
removed , and by Accellent Inc.