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W.R. Grace swings to profit
8:47 AM MST | February 5, 2014 | Rebecca Coons
W.R. Grace swung to a profit in the fourth quarter as stronger sales of construction products helped offset weak catalyst results. The company, which announced on Monday that it had emerged from Chapter 11 protection after nearly 13 years, reports net income of $29.7 million for its fiscal quarter ended 31 December, compared with a net loss of $184.3 million in the year-ago quarter. Both quarters included charges related to the company’s asbestos-related liability and bankruptcy proceedings. Adjusted earnings slipped 10% year-on-year (YOY), to $1.09/share...
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