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People & Business :: Earnings/Finance
Momentive Specialty Chemicals loss widens, revenue up
10:42 AM MDT | March 31, 2014 | Vincent Valk
Momentive Specialty Chemicals (MSC) today reported fourth-quarter revenues up 11% year-on-year (YOY), to $1.2 billion, with segment Ebitda down 6%, to $79 million. The quarterly net loss drastically widened, to $526 million from $11 million, primarily due to asset impairment and income tax charges. “We are pleased to report the continued strong growth of our oilfield and forests products businesses during the fourth quarter,” says Craig Morrison, president and CEO of Momentive. “While cyclicality in certain of our end markets and higher pension...
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