IHS Chemical Week

People & Business :: Companies

Grace swings to a loss on asbsestos liability adjustment

10:47 AM MST | February 6, 2013 | Rebecca Coons

W.R. Grace reported a net loss of $111.6 million for its fiscal fourth quarter, ended 31 December 2012, compared with net income of $58.1 in the year-ago quarter. The 2012 quarter included a $365-million noncash related to an adjustment to the company's asbestos-related liability. Adjusted earnings increased 12.5%, to $1.11/share, and beat a $1.06/share consensus of analysts' estimates reported by Thomson Reuters (New York). Sales declined 3.4%, to $797.8 million, as a 5.7% increase in volumes and slightly higher base pricing were offset by lower rare earth...

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