IHS Chemical Week

Markets :: Specialty Chemicals :: Paints and Coatings

Strong engineered materials performance gives Cytec an earnings boost

3:16 PM MST | January 31, 2013 | Lindsay Frost

Cytec reported rises in both earnings and sales in its fourth quarter results thanks to strong performance in its engineered materials and in process separation segments, the company says. Net income hit $45.8 million—up 10% year-on-year (YOY). Adjusted earnings per share (EPS) from continued operations totaled 72 cts/share, above analyst estimates of 65 cts/share as reported by Thomson Reuters (New York). Net sales of $470.7 million were 27% higher than the fourth quarter 2011. Continuing operations results include a pre-tax charge of $24.7 million, the...

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