Aceto Corp. Reports 32% Retreat In Q2 Earnings

(RTTNews) - Aceto Corp. (ACET) reported earnings for second quarter that declined compared to the same period last year.

The company said its bottom line dropped to $7.26 million, or $0.24 per share. This was lower than $10.67 million, or $0.36 per share, in last year's second quarter.

Analysts had expected the company to earn $0.34 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 4.6% to $125.55 million. This was down from $131.67 million last year.

Aceto Corp. earnings at a glance:

-Earnings (Q2): $7.26 Mln. vs. $10.67 Mln. last year. -Earnings Decline (Y-o-Y): -32.0% -EPS (Q2): $0.24 vs. $0.36 last year. -EPS Decline (Y-o-Y): -33.3% -Analysts Estimate: $0.34 -Revenue (Q2): $125.55 Mln vs. $131.67 Mln last year. -Revenue Change (Y-o-Y): -4.6%