Selling, general and administrative (SG&A) expenses jumped about 31% to $35 million, which includes $4.2 million as advisor fees. Earlier this month, Aceto inked a deal with the lenders for debt covenant waiver starting from the fourth quarter. However, it’s not stated by the company until what time period the agreement is applicable.
For the fiscal 2018 period, sales improved 11.4% aided by growth across all its segments, while the reported loss was $316 million due to increased expenses from its generics business.
Aceto is out of the S&P 600 index from October 2. The chemical company’s stock has been on a free fall plummeting nearly 77% in 2018.
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