Nalco Earnings Down

Nalco reported first-quarter earnings of 17 cts/share today, 2 cts/share below analysts’ consensus and 3 cts/share below earnings for the same period last year. Net income for the quarter was $23 million, compared to $29 million in the year-ago period, with sales down to $868 million from $1 billion a year ago. Free cash flow increased to $146 million from $43 million last year, primarily due to receivables and inventory reduction, the company says. The energy services segment posted the strongest sales, with paper services posting the weakest sales. Water...

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