As a result of the Company's debt refinancing in fiscal year 2007, diluted shares decreased from 22.3 million to 10.3 million for the current year fourth quarter as compared to the same quarter in the prior year.
"We are extremely proud of all that we accomplished in fiscal year 2007. During this very successful year, the Company celebrated its 50th anniversary, completed a transformational debt and capital restructuring and saw its stock begin trading on NASDAQ," commented E. Randall Chestnut, Chairman, President and Chief Executive Officer of the Company.
"In addition, pre-tax income increased by 71%, excluding the gain on debt refinancing, and the Company finished the year with a strong balance sheet that included a lower debt balance of $5.8 million as compared to the prior year," Mr. Chestnut continued.
The Company will host a teleconference at 1:00 p.m. Central Daylight Time to discuss the Company's results and answer appropriate questions from stockholders.
marketing@alchempro.com
