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Balchem Corporation develops, manufactures, distributes and markets specialty performance ingredients and products for the food, nutritional, pharmaceutical, feed and medical sterilization industries. Balchem's reportable segments are strategic businesses that offer products and services to different markets. Balchem presently has three reportable segments:
I. Specialty Products
The specialty products segment repackages and distributes the following specialty gases: ethylene oxide, blends of ethylene oxide, propylene oxide and methyl chloride.
II. Encapsulated / Nutritional Products
The encapsulated / nutritional products segment provides microencapsulation, chelation and agglomeration solutions to a variety of applications in food, pharmaceutical and nutritional ingredients to enhance therapeutic performance, taste, processing, packaging and shelf-life. Major end product applications are baked goods, refrigerated and frozen dough systems, processed meats, seasoning blends, confections, nutritional supplementations, pharmaceuticals and animal nutrition. We also market human grade choline nutrient products through this industry segment for wellness applications.
III. BCP Ingredients
BCP Ingredients manufactures and supplies choline chloride, an essential nutrient for animal health, to the poultry and swine industries. In addition, certain derivatives of choline chloride are also marketed into industrial applications.
As can be seen from the chart analysis below, Balchem presents a diverse portfolio, supported by quickly growing earnings across all of its business segments!!!
Target Price Justification
Latest 10K - FY06: http://www.sec.gov/Archives/edgar/data/9326/000091431707000693/0000914317-07-000693.txt
Latest 10Q - FY07Q1: http://www.sec.gov/Archives/edgar/data/9326/000091431707001336/form10q-83303_bcp.txt
LAST CONFERENCE CALL
May 9 Balchem Corporation Q1 Conference Call:
To access the replay of the conference call, dial (877) 660-6853, use account #298 and conference ID#240239. Both account and conference ID numbers are required for replay access.
Q3 CONFERENCE CALL DETAILS TO BE HELD NOVEMBER 5, 2007