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Chemtura's Net Losses Widen; Raw Material Costs Remain High
9:05 AM MST | March 8, 2011 | Kerri Walsh
Chemtura’s net losses widened in the fourth quarter to $367 million ($2.25/share), from a loss of $94 million in the year-ago period. Operating losses narrowed from $31 million, to $29 million, on sales up 14%, to $680 million. Sales rose on higher volumes and selling prices, Chemtura says. Operating losses narrowed because of a decrease in changes in estimates related to expected allowable claims. Raw material costs continued to be a drag on earnings, Chemtura says. Those costs rose by $30 million compared to the year-ago period, the company...
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