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Ciba, Rhodia Third-Quarter Net Income Falls

6:15 AM MST | November 6, 2007 | Kerri Walsh

Ciba Specialty Chemicals reported third-quarter net income down 35%, to SF50 million ($43 million), on sales up 4%, to SF1.6 billion. Operating income before restructuring charges and a one-time tax item fell 2%, to SF150 million. Operating income fell 11%, to SF122 million including special items. “We have made further progress with an upward trend in sales growth and improvements in our cost structure,” says chairman and CEO Armin Meyer. Ciba expects its full-year 2007 operating income margin to be above year-ago levels, but “we do not expect it to reach...

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