Olin reports rise in sales due to K.A. Steel acquisition

Olin (Clayton, MO) reported a drop in earnings for the third quarter 2012—down 40%, to $28.7 million or 35 cts/share, falling short of analyst estimates of 47 cts/share, according to Thompson Reuters (New York). The results reported for the quarter include sales and a $1.9 million pretax segment income from the company’s new chemical distribution segment created from the acquisition of K.A. Steel Chemicals in August. Sales for the quarter jumped 5%, to $581.2 million. "Third-quarter 2012 earnings in our chlor-alkali business declined compared to...

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