Balchem Corporation Reports Earnings Results for the Second Quarter Ended June 30, 2021
July 30, 2021 at 04:30 pm IST
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Balchem Corporation announced earnings results for the second quarter ended June 30, 2021. For the second quarter, the company announced sales was USD 202.365 million compared to USD 173.355 million a year ago. Operating income was USD 30.593 million compared to USD 26.917 million a year ago. Net income was USD 22.731 million compared to USD 21.125 million a year ago. Diluted earnings per share from continuing operations was USD 0.7 compared to USD 0.65 a year ago. For the half year, sales was USD 388.021 million compared to USD 347.791 million a year ago. Operating income was USD 61.168 million compared to USD 53.195 million a year ago. Net income was USD 46.142 million compared to USD 40.893 million a year ago. Diluted earnings per share from continuing operations was USD 1.41 compared to USD 1.26 a year ago.
Balchem Corporation develops, manufactures, distributes and markets specialty performance ingredients and products for the nutritional, food, pharmaceutical, animal health, medical device sterilization, plant nutrition and industrial markets. The Company's segments include Human Nutrition and Health (HNH), Animal Nutrition and Health (ANH), and Specialty Products. The HNH segment provides human grade choline nutrients and mineral amino acid chelated products for nutrition and health applications. This segment also manufactures specialty vitamin K2, which plays a role in the human body for bone health, heart health and immunity, and methylsulfonylmethane (MSM). ANH segment provides nutritional products derived from its microencapsulation and chelation technologies in addition to the nutrient choline chloride. Through Specialty Products, it re-packages and distributes a number of gases and chemicals for various uses by its customers, notably ethylene oxide, propylene oxide, and ammonia.