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Markets :: Basic Chemicals :: Inorganic Chemicals :: Titanium Dioxide
Rockwood reports lower third-quarter profits
11:45 AM MDT | October 25, 2012 | Rebecca Coons
Rockwood Holdings reported net income of $61.6 million for its fiscal third quarter, down 23% from the year-ago period, on unfavorable currency translation and a sharp falloff in titanium dioxide (TiO2) demand. Adjusted earnings of 84 cts/share narrowly beat analysts’ consensus estimate of 83 cts/share, as reported by Thomson Reuters (New York). Net sales slipped 8%, to $862.8 million, and adjusted Ebitda fell 20%, to $181.9 million. “As compared to the third quarter of 2011, our results were negatively impacted by foreign currency...
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