Rockwood Beats Estimates; Net Income Soars on Tax Benefit

Rockwood Holdings reported second-quarter net income of $225 million—more than double the net income of $95 million in the year-ago period. However, the net income figure includes a $139 million income tax benefit. Excluding the benefit and other charges, adjusted earnings rose 6% year-on-year  (YOY), to $1.24/share. Adjusted earnings beat analysts’ consensus of $1.18/share, as reported by Thomson Reuters (New York).   Rockwood’s earnings were also significantly impacted by currency developments, due mostly to fluctuations in...

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