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Rockwood earnings fall on weak titanium dioxide

11:10 AM MDT | April 30, 2013 | Robert Westervelt

Rockwood Holdings reports net income of $18.9 million, down 75% from the year-ago quarter because of lower margins in titanium dioxide (TiO2) as well as charges related to debt repayment and restructuring. Sales increased 2.8%, to $935 million. Adjusted net income excluding charges was $54 million, down 45% from the year-ago quarter. Reported adjusted earnings of 68 cts/share were also down 45% from the year-ago quarter and in line with the analyst estimates as reported by Thomson Reuters (New York). Rockwood says that earnings were down on weaker...

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