Grace's Net Income Falls on Taxes; Volumes Improve

W.R. Grace’s net income fell 3%, to $44.9 million (60 cts/share) in fourth-quarter 2010 because of a net benefit from income taxes in the prior year quarter. Adjusted earnings jumped 32%, to 62 cts/share.  Sales rose 2%, to $693 million including revenues from the ART joint venture sold in November 2009. Sales were up 4%, to $666 million excluding the jv. Volumes grew 5%, and selling prices rose just over 1%. Unfavorable currency exchange rates offset sales gains by 2.6%. Emerging markets accounted for 34% of sales.  Adjusted Ebit rose 32%, to...

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