Accellent Inc 10-K Annual Report April 2013

Wilmington, MA (March 27, 2013) - 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, 2012.

Fourth Quarter 2012 Financial Results

Net sales were $122.1 million in the fourth quarter of 2012 compared with $120.8 million in the fourth quarter of 2011. Income from continuing operations was $11.2 million in the fourth quarter of 2012, compared with $13.7 million in the fourth quarter of 2011. Net loss was $3.3 million in the fourth quarter of 2012 compared to $3.4 million in the fourth quarter of 2011.

Adjusted EBITDA in the fourth quarter of 2012 was $22.0 million, or 18.0% of net sales, compared to Adjusted EBITDA of $23.1 million, or 19.1% of net sales, in the fourth quarter of 2011.

“Although the challenging market conditions continued and we saw only slight growth in the fourth quarter of 2012, we remained focused on improving the fundamentals of the business,” stated Donald Spence, President and CEO of Accellent. “With improved working capital management and the divestiture of non-strategic sites, we ended 2012 with a record cash balance of nearly $60 million. I am optimistic that our actions will continue to generate positive results.”

Twelve Months Ended December 31, 2012 Financial Results

Net sales decreased 1.3% to $498.6 million in the twelve months of 2012 compared with $505.4 million in the twelve months of 2011. Income from continuing operations was $51.0 million in the twelve months of 2012 compared with $58.1 million in the twelve months of 2011. Net loss was $22.4 million in the twelve months of 2012 compared with a net loss of $14.9 million in the twelve months of 2011.

Adjusted EBITDA for the twelve months of 2012 was $98.7 million, or 19.8% of net sales compared to Adjusted EBITDA of $100.2 million, or 19.8% of net sales in the twelve months of 2011.

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

The financial information included in this press release reflect results from continuing operations for all periods presented and assets to be held and used. Results of discontinued operations and assets held for sale are presented separately for all periods presented.

The following information was filed by Accellent Inc on Wednesday, March 27, 2013 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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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Accellent Inc provided additional information to their SEC Filing as exhibits

Exhibit 12.1: Statement Of Computation Of Ratio Of Earnings To Fixed Charges

Exhibit 31.1: Rule 13A-14(A) Certification Of Chief Executive Officer

Exhibit 31.2: Rule 13A-14(A) Certification Of Chief Financial Officer

Exhibit 32.1: Section 1350 Certification Of Chief Executive Officer

Exhibit 32.2: Section 1350 Certification Of Chief Financial Officer

CIK: 1342505
Form Type: 10-K Annual Report
Accession Number: 0001445305-13-000763
Submitted to the SEC: Mon Apr 01 2013 5:23:01 PM EST
Accepted by the SEC: Mon Apr 01 2013
Period: Monday, December 31, 2012
Industry: Surgical And Medical Instruments And Apparatus