November 2, 2010

Balchem Corp posts higher Q3 profits

Balchem Corp. reported net income of US$8.5 million, or US$0.29 per diluted share, for the third quarter of 2010, up from a profit of US$6.9 million, or US$0.24 per share, from 2009's third quarter.

Accordingly, record net earnings for the quarter increased US$1.6 million, or 23.9% as compared with the same period last year. The US$8.5 million generated diluted net earnings increased this year by 20.8% per common share over the previous year.

Record net sales of US$63.9 million were achieved for the quarter that ended September 30, 2010. This is an increase of 17.7% above the US$54.3 million result of the prior year quarter.

Balchem manufactures specialty ingredients for use in food, animal feed and pharmaceutical products and packages specialty gases.

One of its manufacturing locations is in Slate Hill.