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Lubrizol's Quarterly Profits Rise on Higher Prices and Volumes

6:20 AM MST | February 2, 2011 | Kerri Walsh

Higher selling prices, improved volumes, and a lower effective tax rate helped lift Lubrizol’s fourth-quarter 2010 sales and profits. Those factors helped offset rising raw material, manufacturing, and R&D costs, Lubrizol says. Lubrizol’s net income jumped 21%, to $164 million ($2.45/share), excluding restructuring and impairment charges in the current and year-ago quarters. Net income rose 17%, to $157 million ($2.35/share) including those charges. Sales rose 11%, to $1.32 billion. Product mix and higher selling prices combined accounted for 9%...

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