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Ashland Posts Fourth-Quarter Loss From Continuing Operations

1:07 AM MDT | October 29, 2008 | Nancy Seewald

Ashland reported a loss from continuing operations of $1 million for its fiscal fourth quarter ended September 30, compared to income of $32 million in the year-ago period. Sales rose 6%, to $2.2 billion. “Our performance for the fourth quarter continued to reflect the difficult economic environment, which particularly affected Ashland Performance Materials’ composites business, both from a demand and raw materials cost perspective, and Ashland Water Technologies, which suffered from significant declines in gross profit percentage,” says James...

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