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Cytec Beats Estimates; Planning to Sell Building Block Chemicals

5:39 PM MST | January 27, 2011 | Vincent Valk

Cyctec reported fourth-quarter earnings of $48 million, or 95 cts/share, on sales of $700 million, the company announced today. Results beat analyst consensus estimates of 64 cts/share. Earnings rose strongly from the fourth-quarter of 2009, when they totaled $9.8 million, or 20 cts/share. Sales rose somewhat, from $648 million. Earnings included a one-time $9.7 million, or 19 cts/share, income tax benefit related to the reversal of deferred tax valuation in some of Cytec's international operations. Full-year 2010 earnings were $2.99/share, on total sales of $2.7...

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