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People & Business :: Earnings/Finance
Ashland Posts Loss Due to Pension Charge, Operating Income Up 10%
10:03 AM MST | November 9, 2011 | Robert Westervelt
Ashland reported a loss for the quarter ended September 30 of $263 million, compared with a loss of $141 million in the year ago quarter. The current quarter includes $353 million in after-tax charges, including a $275 million noncash charge related to pension losses. Sales grew 8%, to $1.6 billion. Adjusted operating income rose 10%, to $116 million. Ashland's reported adjusted earnings were $1.01/share for the quarter, up 20% over the prior year, and 9% above the midpoint of analyst estimates as reported by Thomson Reuters (New York)....
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