ORLANDO, Fla., Sept. 18, 2008 -- (PRIME NEWSWIRE) -- RedChip Independent, a division of RedChip Companies, Inc., has issued a first quarter 2009 research update for Synthetech, Inc. (OTCBB: NZYM), a fine chemicals company specializing in the development and manufacture of a wide array of products primarily for the pharmaceutical industry.
Abhinav Bhatnagar, MBA, RedChip Research Analyst, reported:
“Market conditions for NZYM’s products remain favorable as fine chemicals companies continue to restructure and focus on niche markets. This has led to higher capacity utilization rates which benefits companies such as Synthetech that execute large-scale projects. NZYM continues to execute large-scale projects to generate increasing amounts of revenue compared to corresponding quarters. In fact, large-scale projects remain the major source of revenue for the Company.”
“We expect NZYM’s order backlog to grow over the coming quarters due to a favorable domestic and Western European drug development market and the favorable exchange rate of the Euro relative to the U.S. dollar, which translates into increasing orders from Western European customers,” Bhatnagar continued.
“In view of continually favorable market conditions for NZYM’s products, we believe that the Company has substantial growth prospects and is poised to achieve greater profitability over the next couple of quarters. We reiterate our ‘Buy’ recommendation on NZYM,” he concluded.
About RedChip Independent™
RedChip Companies, Inc. is a well-established source of independent research and information on the small-cap market. Dedicated to “Discovering Tomorrow’s Blue Chips Today,”™ its analysts seek out up-and-coming and undiscovered small-cap companies before they show up on Wall Street’s radar. To view the full version of this report, to include the investment conclusion and target price, subscribe to RedChip’s Research Community online by visiting http://www.redchip.com/research/researchmain.asp or call 1-800-REDCHIP.
Disclosure
Neither RedChip Companies nor the analyst has received any compensation from Synthetech, Inc. or any other party for the writing and preparation of this equity research report. The analyst(s) contributing to this report do not hold any shares of the subject securities. This report is based on data obtained from sources we believe to be reliable but is not guaranteed as to accuracy and does not purport to be complete. Neither the information nor any opinion expressed constitutes an offer, or an invitation to make or garner an offer, to buy or sell any securities or any options, futures, or other derivatives related to such securities.
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RedChip Companies, Inc.
1-800-REDCHIP (733-2447 ext. 106)
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