Aceto's 1st-quarter agchem sales down 1.5%
The US company, Aceto (Lake Success, New York), recorded a 1.5% decline in crop protection sales to $3.4 million in the three months ended September 30th 2009. Gross profit for its first quarter of fiscal 2010 was down by 42.2% to $433,000. The gross margin of 12.6% compared with 21.5% in the first quarter of fiscal 2009. The company attributes the decline to sales of lower margin plant growth regulators and higher regulatory costs. Crop protection accounted for about 5% of Aceto’s first-quarter sales.