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Taminco net income falls despite higher sales

9:27 AM MST | November 7, 2013 | Vincent Valk

Taminco today reported net income down 14% year-on-year (YOY), to $6 million, or 9 cts/share, on net sales up 6%, to $302 million. Earnings fell short of analysts’ consensus estimate of 17 cts/share, as reported by Thomson Reuters (New York). Adjusted Ebitda rose 6%, to $66 million, the company says. Functional amines segment sales rose 13% YOY, to $133 million, while segment adjusted Ebitda was up 7%, to $32 million. Sales rose due to higher pricing pass through as raw material prices rose for methylamines and higher amines and solvents, while volumes and...

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