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Chemtura Swings to Profit; Misses Targets
12:40 PM MDT | November 2, 2007 | CW Editorial Staff
Chemtura reported net income from continuing operations for the third quarter, ended September 30, of $4 million (2 cts/share), up compared to a loss of $89 million for the year-ago period. Sales grew 9%, to $950 million, primarily due to the company’s recent acquisition of Kaufman Holdings (Fords, NJ). Higher selling prices, and positive foreign exchange also contributed to sales growth, the company says. Income from continuing operations on a non-gaap basis was $19 million (8 cts/share), falling short of First Call consensus expectations of 14 cts/share...
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