ACETO CORP(ACET)

Google Finance

Year End: June 30th


July 2010
Q3 2010 and 2009 data
Check list:
1.Major Business.
Chemical materials. Sections: Health Sciences: 60%, Specialty Chemicals: 35%, Crop Protection: 5%.

2.Price, Book value, Share outstanding, Market Cap.
Current price: $6.80. Book value $5.00. Shares: 25.4m. Market Cap: $173m

3.Current ratio. Debt/Current Asset ratio. Debt maturity and interest. Inventory level.
Current Assets: $187m, Total liability $84m. No debt.


4.Revenue, Earning, Deficit check. Sales/Price ratio.
                 2009     2008      2007       2006      2005         Ave
Revenue:   $323m   $360      $313m    $297m    $313m
Earning:    $8.6m    $13.5m  $10.2m   $9.2m     $10m
Per share: $0.35     $0.54     $0.41m   $0.38      $0.41       $0.42
FCF:         $22m    $14.2m   $3.4m     $15.5m  -$4.9m
Per share: $0.87    $0.56      $0.13      $0.61     -$0.19       $0.40 


Sales/Prices: 1.9



5.Dividend history.
2009 to 2005: $0.20, $0.25, $0.175, $0.15, $0.15

6.Free Cash flow



7.SG&A, R&D expense.
No big hike on SG&A number. In a down turn, management would take action to cut cost.

8.Management compensation. Options. 
             2009      2008      2007       2006      2005
CEO:    $1.6m     $2.0m    $1.5m     $1.4m    $1.7m
Total:    $3.8m     $4.1m    $3.4m     $3.2m    $3.5m


9.Buy back, insider holding and trading info.
Leonard S. Schwartz:   220k+940k options.   4.5%
Vincent G. Miata(new CEO). 40k + 120k Options.
All insider: 2m, 7.5%



10.Employee numbers. Revenue/Employee. Compensation/Employee.
221 employees. Revenue/Employee: $1.5m


11.Industry comparison.
Check major competitors in the same industry. Whether the business is competitive? 

12.Major events.
1. Nov. 2009, Vincent G. Miata replace Leonard S. Schwartz as new CEO.
2. Sept. 2010 Albert Eilender became new CEO

13.Concerns.
1. Average earning and FCF for past 5 years are quite low compare to current price(P/E: 16).