Chemtura Reports Preliminary Third-Quarter Results

Chemtura reported preliminary third quarter operating income of $45 million, down 39% from the year-ago period, on sales up 9%, to $773 million. Profits fell primarily due to $40-million benefit in 2010 for changes in estimates related to expected allowable claims, as well as other benefits. On a managed basis, operating profits rose 21%, to $46 million because of improved selling prices, Chemtura says. Earnings from continuing operation s before income tax rose 144%, to $22 million. Chemtura will announce third-quarter results on November 1....

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