Cytec Net Income Rises 14% on Strength in Aerospace

Cytec Industries’ first-quarter net income from continuing operations rose 14% year-on-year, to $53.1 million, or $1.14/share, on sales up 2% to $783.3 million. Adjusted earnings of $1.28/share beat analysts’ consensus of $1.14/share, according to Thomson Reuters (New York). Including a one-time gain of $43.6 million from the sale of Cytec’s building block chemicals business, which occurred in the first-quarter of 2011, net income fell 36%....

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