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People & Business :: Earnings/Finance
Rockwood Beats Estimates; Net Income Soars on Tax Benefit
10:24 AM MDT | August 1, 2012 | Vincent Valk
Rockwood Holdings reported second-quarter net income of $225 million—more than double the net income of $95 million in the year-ago period. However, the net income figure includes a $139 million income tax benefit. Excluding the benefit and other charges, adjusted earnings rose 6% year-on-year (YOY), to $1.24/share. Adjusted earnings beat analysts’ consensus of $1.18/share, as reported by Thomson Reuters (New York). Rockwood’s earnings were also significantly impacted by currency developments, due mostly to fluctuations in...
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