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Cytec Returns to Profit, Raises Full-Year Outlook

2:41 PM MDT | July 20, 2010 | Nancy Seewald

Cytec Industries reported second-quarter earnings of $61.8 million, compared with a net loss of $24.8 million in the same period last year. Sales rose 28%, to $874 million. Excluding special items, earnings were $1.31/share, beating analysts’ consensus of 67 cts/share, as reported by Thomson One (New York). Cytec cites sales growth across all business segments and regions, particularly North America where sales rose 40%. “The company’s best prior performance was the second quarter 2008, and we have exceeded that level with 13% lower...

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