Minerals Technologies Reports High Earnings, Drop in Sales

Minerals Technologies reported net earnings of $19.7 million, up 20% year-on-year (YOY) from their second-quarter 2012, ended July 1. The company’s adjusted earnings, less income taxes and non-controlling interests, hit $1.11/share—up 8% from analysts’ estimates of $1.02/share according to Thompson Reuters (New York). Sales were down 5%, to $254 million, as a result of foreign exchange, the permanent and temporary shutdowns of two satellite precipitated calcium carbonate (PCC) facilities in Europe, and the deconsolidation of the...

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