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Westlake's Earnings Rise on Improved Margins and Increased Demand

8:28 AM MST | February 23, 2010 | Lindsey Bewley

Westlake Chemical reported a fourth-quarter net income of $12.5 million (19 cts/share), up 111% compared to the year-ago period, on higher margins and strong olefins demand. Sales were up 5.5%, to $630 million, on higher sales volumes for the company’s major products, partially offset by lower sales prices for polyvinyl chloride (PVC) and caustic soda. Income from operations rose 113%, to $23 million. Westlake’s olefins segment posted income from operations of $55.1 million, up 140% from the year-ago period, on significantly higher operating...

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