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Cytec Posts Big Earnings Gain but Falls Short of Estimates
3:15 PM MDT | October 21, 2010 | Nancy Seewald
Cytec Industries reported net earnings of $37.7 million in the third quarter, more than triple earnings in the same period last year. Excluding special items, earnings were 80 cts/share, falling short of analysts’ estimates of 84 cts/share, as reported by Thomson One (New York). The 2010 period included charges totaling $2.2 million, while the 2009 quarter included charges of $15.1 million. Sales rose 13%, to $837 million. “Sales increased across all business segments and regions versus the prior year period primarily due to higher volumes and selling...
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