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Markets :: Basic Chemicals :: Inorganic Chemicals :: Chlor-alkali
Olin's Earnings Rise on Stronger Bleach Sales and Special Charge
2:45 PM MDT | July 24, 2012 | Lindsey Bewley
Olin reported a second-quarter net income of $47.6 million (59 cts/share), up 13% from the year-ago quarter, on stronger sales volumes from bleach and hydrochloric acid. Second quarter results included a $1.8 million pretax restructuring charge primarily associated with the company’s ongoing Winchester centerfire relocation project. Sales were down nearly 4% from the year-ago period, to $508.7 million. In the company’s chlor-alkali segment, earnings increased 3%, to $75 million, on improved prices and higher bleach and hydrochloric acid...
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