Phibro Animal Health Corporation Reports Fourth Quarter and Fiscal Year Results, Provides Financial Guidance

About this update from Phibro Animal Health Corporation

[{"type":"text","content":" TEANECK, N.J.--(BUSINESS WIRE)--\nPhibro Animal Health Corporation (NASDAQ:PAHC) today announced its financial results for its fourth quarter and fiscal year ended June 30, 2019 and presented financial guidance for the new fiscal year.\n\n\nHighlights for the June 2019 quarter (compared to the June 2018 quarter)\n\n\n\nNet sales of $204 million, a decrease of $8 million, or 4%\n\n\n\n\nNet income of $9 million, a decrease of $13 million, or 60%\n\n\n\n\nDiluted EPS of $0.22, a decrease of $0.33, or 60%\n\n\n\n\nAdjusted EBITDA of $26 million, a decrease of $7 million, or 20%\n\n\n\n\nAdjusted diluted EPS of $0.33, a decrease of $0.13, or 28%\n\n\n\nHighlights for the June 2019 year (compared to the June 2018 year)\n\n\n\nNet sales of $828 million, an increase of $8 million, or 1%\n\n\n\n\nNet income of $55 million, a decrease of $10 million, or 16%\n\n\n\n\nDiluted EPS of $1.35, a decrease of $0.26, or 16%\n\n\n\n\nAdjusted EBITDA of $118 million, a decrease of $11 million, or 8%\n\n\n\n\nAdjusted diluted EPS of $1.53, a decrease of $0.21, or 12%\n\n\n\nGuidance for the June 2020 year (compared to the June 2019 year)\n\n\n\nNet sales of $833 - $863 million, an increase of $5 - $35 million, or 1% - 4%\n\n\n\n\nNet income of $34 - $37 million, a decrease of $18 - $20 million, or (33)% - (37)%\n\n\n\n\nDiluted EPS of $0.84 - $0.90, a decrease of $0.44 to $0.50, or (33)% - (37)%\n\n\n\n\nAdjusted EBITDA of $103- $107 million, a decrease of $11 - $15 million, or (9)% - (13)%\n\n\n\n\nAdjusted diluted EPS of $1.08 - $1.15, a decrease of $0.38 to $0.45, or (25)% - (29)%\n\n\n\nCOMMENTARY\n\n\n“The effects of African Swine Fever, as discussed last quarter, have significantly impacted our performance in the June quarter and will have an even larger impact in the new fiscal year,” said Jack Bendheim, Phibro's Chairman, President and Chief Executive Officer. “We have made the strategic decision to continue to accelerate our new product initiatives despite the challenges posed by ASF, recognizing the short-term impact on our financial results.\n\n\nOverall, we continue to be bullish on the long-term potential of the animal health industry. That is why we have invested, and intend to continue to invest, in major strategic initiatives to support future growth. Our recent acquisition of the Osprey Biotechnics business aligns with this belief,...

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