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Olin's Earnings Fall on Lower Volumes
7:57 AM MDT | October 27, 2009 | Lindsey Bewley
Olin reported third-quarter net income of $39.4 million (50 cts/share), up 4.5% from the year-ago period. Sales were down 21%, to $397 million, compared to the third quarter of 2008. Chlor-alkali segment earnings were $3.9 million, a 96% decrease over last year. Sales were down 37%, to $228.8 million, reflecting both lower shipment volumes and lower prices. Volumes for caustic soda and chlorine were down 20% year-over-year. "Chlor-alkali segment earnings of $3.9 million exceeded our expectations of a loss in the quarter due to improved pricing and...
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