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Markets :: Specialty Chemicals :: Paper chemicals
Nalco's Quarterly Profits Rise, But Costs Weigh on Results
3:32 AM MST | February 2, 2011 | Kerri Walsh
Nalco’s fourth quarter 2010 sales and profits rose on improved sales and volumes. Rising raw material costs, however, decreased gross profit margins for the quarter. Net income jumped 28%, to $55 million (40 cts/share), on sales up 11%, to $1.12 billion. Adjusted earnings were 56 cts/share, compared to 30 cts/share in the year-ago period. Organic revenues from the energy services business rose 12%, and the water services and paper services businesses each reported organic sales up 8%. Global upstream markets drove strong energy services sales growth...
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