Nalco's Profits Jump on 'Substantial' Volume Growth

Nalco’s net income jumped 32%, to $33 million (24 cts/share) excluding an $84-million after tax gain from the sale of two businesses. Earnings were 26 cts/share after adjusting for the divestitures, restructuring charges, and other unusual items. Sales grew 11%, to $1.1 billion, because of “substantial volume growth and moderate pricing gains,” Nalco says. Sales rose across all segments, particularly in energy services based on new account growth in the upstream markets, the company says. Raw material costs rose across all businesses. ...

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