Rockwood earnings fall on weak TiO2, additives results

Rockwood’s fourth-quarter earnings declined 66% year-on-year (YOY), to $21.2 million, or 26 cts/share, on sales up 1.8%, to $829 million. Earnings for the 2012 fourth-quarter included $16.8 million in net charges. Excluding these charges, adjusted earnings from continuing operations totaled $38 million, or 47 cts/share, down 47.7% from the year-ago quarter. Adjusted earnings fell slightly short of analysts’ consensus estimate of 48 cts/share, as reported by Thomson Reuters (New York). Titanium dioxide (TiO2) pigments net sales were up 14.4% YOY, to $223...

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