PAHC Phibro Animal S

 

TIDMPAHC 
 
RNS Number : 2169S 
Phibro Animal Health Corporation 
14 May 2009 
 

For release: IMMEDIATE 
 
 
PHIBRO ANIMAL HEALTH CORPORATION 
 REPORTS ITS MARCH 2009 FISCAL THIRD 
QUARTER 
 
 
RIDGEFIELD PARK, New Jersey, 14 May 2009 - Phibro Animal Health Corporation 
("PAHC" or the "Company") announced its operating results for its fiscal third 
quarter ending 31 March 2009.  Quarterly net sales of $129 million decreased $3 
million, or 3%, compared with the same quarter last year, due to reductions in 
unit volumes offset in part by acquisitions. Adjusted ebitda (earnings before 
interest, taxes and depreciation and amortization) of $11.0 million decreased 
$0.8 million, or 6%, primarily due to lower revenues.  After deducting 
depreciation and amortization, interest expense and income taxes, the Company 
reported a $4.4 million net loss for the quarter. 
 
For the nine months, net 
sales of $398 million increased $30 million, or 8%, compared with the same 
period last year, due to acquisitions and to price increases related to pass 
through of cost increases.  Adjusted ebitda of $34.6 million increased $0.3 
million or 1%.  After deducting depreciation and amortization, $21 million of 
non-cash foreign currency losses related to intercompany balances, interest 
expense and income taxes, the year-to-date net loss was $22.0 million. 
 
The 
financial results include the operations of the Abic animal health and Baltzell 
trace minerals businesses since the dates of their acquisition during the fiscal 
third quarter.  The acquisitions contributed sales of $12 million and adjusted 
ebitda of $1.4 million. 
 
 
Animal Health & Nutrition 
Quarterly net sales of $111 million increased $3 million, or 2%, compared with 
the same quarter last year. The current quarter included $12 million of net 
sales from the recent acquisitions. Sales decreased by $9 million due to 
reductions in unit volumes, primarily in trace minerals and other nutritional 
products, offset in part by overall selling price increases.Adjusted ebitda 
increased $0.4 million, or 3%, as the $1.4 million added by the acquisitions was 
offset in part by reduced volumes. 
 
 
Performance Products 
Distribution quarterly net sales of $11 million decreased $5 million, or 31%, 
compared with the same quarter last year. Net sales decreased due to lower unit 
volumes offset in part by higher average selling prices. Adjusted ebitda 
decreased by $1.4 million due to lower unit volumes. 
 
 
Industrial Chemicals quarterly net sales of $7 million decreased $1 million. 
Sales decreased primarily due to lower average selling prices of copper related 
products offset in part by increased volumes. Adjusted ebitda decreased by $0.4 
million due to lower gross margins. 
 
 
For further information, the Company's quarterly report is available on our 
website in the Investor Relations section at www.pahc.com. 
 
 
 
 
Forward-Looking Statements 
 
 
This announcement contains forward-looking statements, including statements 
regarding management's expectations and beliefs regarding the future results or 
performance of the Company. Because these statements apply to future events, 
they are subject to risks and uncertainties. When used in this announcement, the 
words "anticipate," "believe," "estimate," "expect," "expectation," "project" 
and "intend" and similar expressions are intended to identify such 
forward-looking statements. Our actual results could differ materially from 
those projected in the forward-looking statements. Additionally, you should not 
consider past results to be an indication of our future performance. We do not 
intend to update any of the forward-looking statements after the date of this 
announcement to conform these statements to actual results, to changes in 
management's expectations or otherwise, except as may be required by law. 
 
 
 
 
 
 
About The Company 
PAHC is a diversified global manufacturer and marketer of a broad range of 
animal health and nutrition products to the poultry, swine and cattle markets. 
PAHC is also a manufacturer and marketer of performance products for the 
ethanol, wood preservation and personal care industries. For more information, 
please visit www.pahc.com. 
 
 
For more information: 
 
 
+------------------------------------------------+--------------------------+ 
| Phibro Animal Health Corporation               | +1 201 329 7300          | 
| Richard Johnson, Chief Financial Officer       |                          | 
| Investor.relations@pahc.com                    |                          | 
+------------------------------------------------+--------------------------+ 
|                                                |                          | 
+------------------------------------------------+--------------------------+ 
|                                                |                          | 
+------------------------------------------------+--------------------------+ 
| Panmure Gordon (UK) Limited                    | +44 (0) 20 7459 3600     | 
| Andrew Godber                                  |                          | 
| Rakesh Sharma                                  |                          | 
+------------------------------------------------+--------------------------+ 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 QRTEAXSDFDENEFE 
 

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