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Accellent Inc (1342505) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2011

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 2011 Results

Wilmington, MA (March 22, 2012) – Accellent Inc. (the “Company” or “Accellent”), a wholly owned subsidiary of Accellent Holdings Corp., today announced results for its fiscal fourth quarter ended December 31, 2011.

Fourth Quarter 2011 Financial Results

Net sales decreased 4.6% to $126.0 million in the fourth quarter of 2011 compared with $132.1 million in the fourth quarter of 2010. Income from operations was $13.6 million in the fourth quarter of 2011, compared with $17.4 million in the fourth quarter of 2010. Net loss was $3.4 million in the fourth quarter of 2011, compared with a net loss of $15.4 million in the fourth quarter of 2010. The 2010 fourth quarter net loss included a $14.9 million loss on debt extinguishment.

Adjusted EBITDA for the fourth quarter of 2011 was $24.9 million, or 19.7% of net sales, compared to Adjusted EBITDA of $28.5 million, or 21.6% of net sales, in the fourth quarter of 2010.

“Demand from our customers slowed in the fourth quarter, though I am pleased that our full year revenue was nearly 5% higher than in 2010. Unfortunately lower revenue combined with higher costs negatively impacted our profitability in the fourth quarter. However, we are committed to improving our financial results going forward and to driving improvements in all aspects of our business.” said Donald Spence, President and CEO of Accellent.

Year Ended December 31, 2011 Financial Results

Net sales increased 4.9% to $531.8 million in 2011 compared with $507.0 million in 2010. Income from operations was $59.5 million in 2011 compared with $68.5 million in 2010. Net loss was $14.9 million in 2011 compared with a net loss of $24.5 million in 2010. The 2010 net loss included a $20.9 million loss on debt extinguishment.

Adjusted EBITDA for 2011 was $103.4 million, or 19.4% of net sales compared to Adjusted EBITDA of $110.1 million, or 21.7% of net sales in 2010.

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 Thursday, March 22, 2012 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.

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SEC Filing Tools
CIK: 1342505
Form Type: 10-K Annual Report
Accession Number: 0001193125-12-140036
Submitted to the SEC: Thu Mar 29 2012 5:04:36 PM EST
Accepted by the SEC: Thu Mar 29 2012
Period: Saturday, December 31, 2011
Industry: Surgical And Medical Instruments And Apparatus

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