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Minerals Technologies earnings fall on Amcol acquisition costs
April 25, 2014 | Vincent Valk
Minerals Technologies (MTI) has reported first-quarter earnings totaling $15.6 million, or 45 cts/share, down 17% year-on-year (YOY), due mostly to costs related to the acquisition of Amcol. Adjusted earnings, excluding acquisition costs, totaled 58 cts/share, up 5% YOY. Sales fell 2%, to $244.4 million. Specialty minerals segment sales declined 4% YOY, to $159.7 million, while segment income from operations fell 10%, to $21.4 million. The specialty minerals segment includes the precipitated calcium carbonate (PCC) and processed minerals product lines. PCC sales...
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