Aceto posts 1Q profit

PORT WASHINGTON, N.Y. (AP) _ Aceto Corp. (ACET) on Thursday reported fiscal first-quarter profit of $454,000.

The Port Washington, New York-based company said it had net income of 1 cent per share. Earnings, adjusted for amortization costs and non-recurring costs, were 30 cents per share.

The chemical company posted revenue of $185.3 million in the period.

Aceto expects full-year earnings in the range of $1.05 to $1.15 per share.

Aceto shares have decreased 58 percent since the beginning of the year. The stock has decreased 48 percent in the last 12 months.

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