Services :: Financial
Cytec Fourth-Quarter Earnings Fall, but Beat Estimates
2:40 PM MST | January 31, 2012 | Vincent Valk
Cytec’s fourth-quarter earnings fell 15.4%, to $41.6 million, or 88 cts/share, on sales up 4.4%, to $731 million. However, adjusted earnings of 86 cts/share far outpaced analyst estimates of 47 cts/share, as reported by Thomson Reuters (New York). The company was largely able to offset volume declines in some segments with selling price increases. Sales in the in process separation segment rose 10%, to $90 million, while operating earnings rose 53.4%, to $20.4 million. Volumes rose by 3%, and selling prices increased by 7%. Engineered materials sales...
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