May 21, 2007

Balchem Corporation reports record sales

Balchem Corporation reported record net sales of US$27.6 million for the quarter ended March 31, 2007, posting an increase of 12.2 percent increase above the US$24.6 million result from same period last year derived from both organic and acquisition growth.

Record net earnings for the first quarter were US$3.4 million, an increase of $0.6 million, or 20.4 percent as compared with the same period last year.

Dino A. Rossi, President and CEO of Balchem, said the increase was due to the development of choline products and its recent acquisitions of Akzo Nobel and Chinook assets.

Rossi said they will continue to invest in their pharmaceutical initiatives where the company has recently spent US$2 million in the first quarter. He said they are aiming for a "strong double digit growth expectations from the core and acquired businesses, including continued spending toward our pharmaceutical objectives, for both sales and earnings."