Ashland Posts Higher Sales and Profits

Ashland reported net income of $353 million in fiscal second quarter ended March 31, compared with income of  $22 million in the year-ago period. Results include income from discontinued operations of $257 million related mostly to the sale of Ashland Distribution, which was completed on March 31. Adjusted earnings were 86 cts/share, 2 cts/share higher than 2010 results, and 9 cts/share higher than analysts’ consensus. Sales rose 9%, to $1.6 billion. "I am encouraged by our progress in two key areas,” says James O’Brien, Ashland...

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