Balchem Corp. (BCPC) released a profit for its first quarter that increased from the same period last year and beat the Street estimates.
The company's bottom line came in at $29.0 million, or $0.89 per share. This compares with $22.8 million, or $0.70 per share, in last year's first quarter.
Excluding items, Balchem Corp. reported adjusted earnings of $33.6 million or $1.03 per share for the period.
Analysts on average had expected the company to earn $0.98 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 3.1% to $239.7 million from $232.5 million last year.
Balchem Corp. earnings at a glance (GAAP) :
-Earnings (Q1): $29.0 Mln. vs. $22.8 Mln. last year.
-EPS (Q1): $0.89 vs. $0.70 last year.
-Revenue (Q1): $239.7 Mln vs. $232.5 Mln last year.
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