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Cambrex Reports Fourth Quarter and Full Year 2009 Results
Date:2/10/2010

EAST RUTHERFORD, N.J., Feb. 10 /PRNewswire-FirstCall/ -- Cambrex Corporation (NYSE: CBM) reports fourth quarter results for the period ended December 31, 2009.

Highlights

  • Reported sales decreased by 9.9%, and excluding the impact of foreign currency, sales decreased 15.8% compared to fourth quarter 2008.  For the full year 2009, reported sales decreased 5.3%, and decreased 1.2% excluding the impact of foreign currency.
  • EBITDA was $9.4 million in the fourth quarter 2009 compared to Adjusted EBITDA of $10.5 million in the same quarter last year.  For the full year 2009, EBITDA was $47.1 million compared to Adjusted EBITDA of $47.7 million in 2008.  See the reconciling table at the end of this release.
  • Debt, net of cash was $68.5 million at the end of fourth quarter 2009, a reduction of $10.2 million during the quarter and a reduction of $22.9 million for the year.
  • Provision for Income Taxes includes a $5.3 million expense in the fourth quarter 2009 related to an ongoing audit of a European subsidiary.
  • Net Loss was $2.8 million in the fourth quarter 2009 compared with $1.0 million for the fourth quarter 2008.  Net Income was $10.4 million for the full year 2009 compared to $7.9 million in 2008.

Fourth Quarter 2009 Operating Results<
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SOURCE Cambrex Corporation
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