Ecolab Net Income Falls on Nalco Merger Charges

Ecolab's first-quarter net income fell 47% year-on-year, to $50 million, on restructuring charges related to the Nalco merger. Sales were up 85%, to $2.8 billion, due to the addition of Nalco. Fixed currency sales were up 9% on a proforma basis, which adjusts for the inclusion of Nalco. Adjusted net income, excluding the merger and other charges, rose 40%, to $150 million, or 50 cts/share. Earnings per share (EPS) beat analysts' consensus of 48 cts/share, as reported by Thomson Reuters (New York). U.S. cleaning and sanitizing sales were up 4% year-on-year, to...

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