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Cytec Posts Gain, Raises Guidance

4:05 PM MDT | October 15, 2009 | Vincent Valk

Cytec posted earnings of $12.5 million for the third-quarter, or 26 cts/share, the company announced today. Excluding special charges, the company’s earnings were $27.6 million, or 57 cts/share. Sales for the quarter totaled $740 million. The company is raising its full-year earnings guidance to 80-100 cts/share from 60-90 cts/share. In the third-quarter last year, earnings excluding special charges were $51.2 million, or $1.06/share, on sales of $963 million. Year-on-year sales were down across all segments. The building block chemicals division posted the...

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