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Kronos swings to profit

6:52 AM MDT | March 21, 2014

Kronos Worldwide (Dallas) reports net income of $2.9 million for the fourth quarter of 2013, up from a loss of $18.1 million in the year-ago period. Earnings per share totaled 3 cts, below analysts’ consensus estimate of 6 cts, as reported by Thomson Reuters (New York). The shortfall was due to a $9-million, one-time charge related to a labor settlement. Excluding the settlement, earnings were 8 cts/share. Sales for the quarter totaled $369 million, down 7% year-on-year (YOY), on lower average selling prices for titanium dioxide, which decreased 10%...

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