PAHC Phibro Animal S

    RNS Number : 6024U
  Phibro Animal Health Corporation
  16 May 2008
   

    For additional information contact: Richard G. Johnson, Chief Financial Officer, +1-201-329-7300 or Investor.Relations@pahc.com


    PHIBRO ANIMAL HEALTH CORPORATION REPORTS 22% REVENUE GROWTH FOR ITS MARCH 2008 FISCAL THIRD QUARTER

    RIDGEFIELD PARK, New Jersey, May 16, 2008 - Phibro Animal Health Corporation ("PAHC" or the "Company") announced its operating results
for its fiscal third quarter ending March 31, 2008.  Quarterly sales of $132 million increased $24 million, or 22%, led by volume increases
in the Animal Health & Nutrition business.  Adjusted ebitda (earnings before interest, taxes and depreciation and amortization) of $11.7
million increased $2.5 million, or 25%, in line with sales growth. Adjusted ebitda excludes $15.2 million of one-time costs related to the
recent equity transactions.  After including the one-time costs and interest and income taxes, the Company reported a $12.3 million net loss
for the quarter.

    Animal Health & Nutrition 
    Sales of $108.5 million increased $22.3 million or 26%, due to volume growth in most product lines and markets and also due to increased
pricing to offset raw material cost increases. Adjusted ebitda of $13.1 million increased $1.4 million, or 12%, as the volume increases were
partially offset by higher manufacturing costs due to the strengthening of the Brazilian Real against the U.S. dollar and by increased sales
force headcount.

    Performance Products
    Distribution sales of $15.3 million increased $1.8 million, or 13%, primarily from volume growth. Adjusted ebitda of $3.6 million
improved $0.4 million on the sales increase.

    Industrial Chemicals sales of $8.5 million were slightly below last year. The Company began marketing its new Sustain* wood preservative
product during the quarter. Increased sales of the new product were offset by reductions in legacy product lines. Adjusted ebitda was a loss
of $0.6 million, but an improvement of $1.1 million compared with last year, due to the improved product mix and legal expenses incurred
last year in defense of intellectual property related to the wood preservative market.

    For further information, the Company's quarterly report is available on our website in the Investor Relations section at www.pahc.com.

    Forward-Looking Statements 

    This announcement contains forward-looking statements, including statements regarding management's expectations and beliefs regarding
the future results or performance of the Company. Because these statements apply to future events, they are subject to risks and
uncertainties. When used in this announcement, the words "anticipate," "believe," "estimate," "expect," "expectation," "project" and
"intend" and similar expressions are intended to identify such forward-looking statements. Our actual results could differ materially from
those projected in the forward-looking statements. Additionally, you should not consider past results to be an indication of our future
performance. We do not intend to update any of the forward-looking statements after the date of this announcement to conform these
statements to actual results, to changes in management's expectations or otherwise, except as may be required by law.

    About The Company 
    PAHC is a diversified global manufacturer and marketer of a broad range of animal health and nutrition products to the poultry, swine
and cattle markets. PAHC is also a manufacturer and marketer of performance products for the ethanol, wood preservation and personal care
industries. For more information, please visit www.pahc.com.

    For more information:

    
 Phibro Animal Health CorporationRichard Johnson, Chief       +1 201 329 7300 
 Financial OfficerInvestor.relations@pahc.com
                                                                              
                                                                              
 Panmure Gordon (UK) LimitedAndrew GodberRakesh Sharma    +44 (0) 20 7459 3600


This information is provided by RNS
The company news service from the London Stock Exchange
 
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