Balchem Corp. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net sales of $84.651 million against $76.203 million a year ago. Earnings from operations were $15.865 million against $13.675 million a year ago. Earnings before income tax expense were $15.863 million against $13.688 million a year ago. Net earnings were $10.888 million against $9.268 million a year ago. Diluted net earnings per common share were $0.36 against $0.31 a year ago. Earnings from operations particularly reflects favorable operating efficiencies due to an overall 13% volume improvement in sales and lower costs of certain petro-chemical commodities used to manufacture choline and derivatives. Net cash provided by operating activities was $4.353 million against $12.655 million a year ago. Capital expenditures were $3.400 million against $1.401 million a year ago. Intangible assets acquired were $0.033 million. The company generated approximately $18.5 million of EBITDA in the quarter, which translates in to $0.60 per diluted share. And when including its noncash stock-based compensation charge, the company generated $19.5 million of EBITDA in the quarter, equaling approximately $0.64 per share or 22% of sales. Capital expenditures for all of 2013 are expected to be approximately $10.5 million. The company's annualized effective income tax rate for all of 2013 is currently estimated to be approximately 32.5%.

Balchem Corp. announced that they will report Q1, 2013 results at 9:30 AM, US Eastern Standard Time on May 03, 2013

Balchem Corp., Q1 2013 Earnings Call, May 03, 2013