Zoltek Companies, Inc. has reported results for the fourth quarter and full fiscal year ended September 30, 2008. For the fourth quarter of fiscal 2008, Zoltek reported net sales of? US$ 51.0 million, compared to? US$ 43.6 million in the fourth quarter of fiscal 2007, an increase of 17.0%.
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On a sequential quarter basis, sales for the latest quarter were up? US$ 6.0 million or 13.3% from the third quarter of fiscal 2008. For fiscal 2008 as a whole, Zoltek's net sales were US$ 185.6 million, compared to? US$ 150.9 million in fiscal 2007, an increase of 23%. The Company reported EBITDA of? US$ 36.5 million in fiscal 2008, an increase over EBITDA of? US$ 27.3 million reported for the prior fiscal year. During fiscal 2008, Zoltek reported? US$ 20.2 million of net cash provided by operating activities, despite increases of? US$ 17.4 million in inventories and? US$ 4.4 million in accounts receivable. The Company finished the year with? US$ 29.2 million of unrestricted cash.
