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Clariant and Ciba First-Quarter Earnings Fall

10:16 AM MDT | May 7, 2008 | Kerri Walsh

Leading Swiss-based companies reported declines in first-quarter income, mainly because of unfavorable currency exchange rates and the economic slowdown. Clariant’s net income from continuing operations dropped 52%, to SF41 million ($39 million), on sales down 2%, to SF2.1 billion. Operating income before exceptional items rose 10%, to SF167 million. Selling prices increased 4%, which was enough to offset a 9% hike in raw material costs, Clariant says. The pigments and additives division reported strong sales and margin growth, Clariant says. Sales and...

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