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Clariant, Ciba First-Quarter Earnings Fall

4:55 AM MDT | April 30, 2008 | Kerri Walsh

Swiss chemical companies reported a decline in first-quarter income, mainly because of unfavorable currency exchange rates and economic slowdowns. Clariant’s net income from continuing operations fell 52%, to SF41 million ($39 million), on down 2%, to SF2.1 billion. Operating income before exceptional items rose 10%, to SF167 million. Improved pricing across all businesses helped to boost operating profits, Clariant says. Selling prices increased 4%, which was enough to offset a 9% hike in raw material costs, Clariant says. The pigments and additives division...

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