Grace's Earnings Rise on Higher Volumes and Prices; Beat Estimates

W.R. Grace’s third-quarter net income rose 24%, to $54.9 million (74 cts/share), on pro forma sales of $682 million—flat compared to the year-ago period. Sales volumes increased 2.2%, and selling prices rose 1.4%. Those gains were offset, however by unfavorable currency exchange rates, which had a 3.5% negative impact on sales, Grace says. Adjusted earnings of 75 cts/share beat the consensus of analysts estimates of 65 cts/share as reported by Reuters. Sales fell 10% including the ART joint venture, which was deconsolidated in December 2009.  The...

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