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OM Group falls short of estimates as volumes, prices decline
9:58 AM MST | November 9, 2012 | Vincent Valk
OM Group today reported adjusted earnings of 25 cts/share, 32% below analyst’s consensus estimate of 37 cts/share, as reported by Thomson Reuters (New York). The company, however, swung to a profit of $5.51 million from a loss of $68.3 million in the year-ago quarter. Year-ago results, however, were significantly impacted by charges related to the acquisition of magnetics firm VAC Holdings. Sales were down 4.9% year-on-year (YOY), to $394.7 million, as weak end market conditions impacted many of OM Group’s businesses. Lower sales volumes in...
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