ACETO Corp (ACET) Misses Q2 EPS by 1c, Miss on Revenues; Offers FY18 EPS Guidance Below Consensus

ACETO Corp (NASDAQ: ACET) reported Q2 EPS of $0.22, $0.01 worse than the analyst estimate of $0.23. Revenue for the quarter came in at $171.2 million versus the consensus estimate of $176.49 million.

• Net sales of $171.2 million versus $125.6 million, a 36.4% increase
• Gross profit of $34.0 million versus $30.8 million, a 10.3% increase
• Net loss of $13.9 million versus net loss of $0.6 million
• Net loss includes $13.9 million of additional income tax expense associated with the Tax Cuts and Jobs Act (“TCJA”)
• Diluted EPS loss of $0.39 versus loss of $0.02
• Non-GAAP Adjusted Net Income of $7.6 million versus $7.3 million, a 4.7% increase
• Non-GAAP Adjusted EPS of $0.22 versus $0.24, an 8.3% decrease

Fiscal 2018 Guidance

For the fiscal year ending June 30, 2018, at current exchange rates, ACETO is providing financial guidance as follows:

• Total revenues to increase approximately 10% to 15%;
• Reported diluted GAAP loss per share between $(0.22) and $(0.32);
• Diluted Non-GAAP earnings per share between $1.00 and $1.05.

GUIDANCE:

ACETO Corp sees FY2018 EPS of $1.00-$1.05, versus the consensus of $1.08.

For earnings history and earnings-related data on ACETO Corp (ACET) click here.

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