Nalco’s Income Falls, But Beats Estimates

Nalco posted earnings of $28 million for the third-quarter, down 51% from the year-ago quarter. The 2008 quarter included one-time divestiture gains. Sales fell 14%, to $957 million. Adjusted earnings totaled 31 cts/share, beating analysts' estimates by 6 cts/share, according to Thomson Reuters (New York). Pro forma EBITDA was up 3.9% to $190 million, due to "productivity gains and less challenging raw materials market conditions," the company says. All business segments posted sales drops from the year-ago period, with the largest decline coming in the...

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