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Markets :: Specialty Chemicals :: Water treatment
Nalco Swings to Profit, Raises Full-Year Guidance
2:27 PM MDT | July 28, 2010 | Nancy Seewald
Nalco reported second-quarter net earnings of $57 million, compared with a net loss of $27.3 million in the same period last year. Adjusted earnings were 41 cts/share, compared with 13 cts/share in the year-ago period and analysts’ consensus of 34 cts/share, as reported by Thomson One (New York). Sales rose 19%, to $1.09 billion, due mostly to 17% organic growth. Sales of Corexit dispersant to BP for use in the Gulf of Mexico oil spill contributed $70 million in sales. "We are on track toward doubling our base revenue growth by executing our...
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