IHS Chemical Week

People & Business :: Earnings/Finance

Momentive reports net losses on weak epoxies, quartz

11:09 AM MDT | August 13, 2013 | Rebecca Coons

Momentive Specialty Chemicals reports a net loss of $28 million compared with net income of $28 million in the year-ago quarter. Operating income fell 53.3% YOY, to $49 million, reflecting lower gross profit. Segment Ebitda was 18.6% lower year-on-year (YOY). Sales were flat, at $1.3 billion. "While our overall results trailed the prior year, we were pleased to post record segment Ebitda within our forest products resins segment, which was partially offset by our epoxy business," says Craig Morrison, chairman, president, and CEO of Momentive. "Our...

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