Aceto Corp., distributor of chemicals and generic drugs, said Friday its fiscal third-quarter profit jumped 83 percent as sales rose, helped by solid results in all its segments, notably health sciences and chemical and colorants.
For the three months ended March 31, the company earned $3.3 million, or 13 cents per share, up from a profit of $1.8 million, or 7 cents per share, in the same period a year earlier.
Revenue climbed 30 percent to $98.3 million from $75.9 million. The company said its results were boosted by a 41 percent rise in revenue from its health sciences division, and an 18 percent increase in chemicals and colorants segment sales.
Shares added $1.17, or 17 percent, to $8.07. The stock has traded in the 52-week range of $5.79 and $9.82, and is off nearly 14 percent since the start of the year.
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