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People & Business :: Earnings/Finance
Second-Quarter Results Slightly Higher for Celanese
8:10 AM MDT | July 24, 2012 | Lindsey Bewley
Celanese reported second-quarter net income of $210 million ($1.31/share), up 3% from the year-ago quarter. Sales fell 4%, to nearly $1.7 billion. The company delivered higher overall volumes, but results were impacted by lower pricing, primarily in its acetyl intermediates business, and unfavorable currency impacts, Celanese says. Margins expanded in the company's industrial specialties and consumer specialties businesses but did not completely offset lower margins in its acetyl intermediates business due to temporarily elevated industry margins in the prior...
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