Rohm and Haas reports first quarter earnings

Rohm and Haas Company (NYSE: ROH) today reported first quarter 2002 earnings from operations of $90 million (excluding the impact of non-recurring items), or $.41 per share.

This compares with $48 million, or $.22 per share for the same period in 2001. The $.41 per share first quarter 2002 figure is three cents above financial analysts' expectations of $.38 per share, as reported by First Call on a comparable basis. Net earnings for the first quarter of $.36 per share included $.05 per share for plant dismantlement and other costs associated with the ongoing restructuring effort, and other non-recurring items. Net earnings were up 25 percent from the $.29 per share reported for the comparable period in 2001.

"Our profitability in the first quarter was powered by ongoing efforts to improve product mix and reduce our cost structure, along with help from raw material costs and interest expense that were down from last year's levels." Gupta noted there were favorable signs in the sequential improvement in sales during the first three months of the year. "We saw a modest return in demand for the technically advanced products in Electronic Materials, and signs of a reasonable start to the North American painting season which benefited our Coatings business," he said. A slightly lower corporate tax rate contributed $.01 per share

600450 Rohm and Haas reports first quarter earnings

See more news about:

Others also read

William A. Wulfsohn, vice president and general manager of Nylon System for Honeywell International, has been named vice president of European coatings for PPG Industries (NYSE:PPG) and managing director of PPG Europe. "Bill will play a vital role in helping our European coatings businesses achieve their full potential," said Michael A.
Apogee Enterprises Inc. reported level sales but an increase in earnings for the third quarter of its fiscal 2003. Bloomington-based Apogee, which makes glass products and services, said the earnings increase was mainly the result of improvements in its architectural glass business.
Bystronic is to take over Armatec Vierhaus GmbH with effect from 1 January 2003. For Bystronic, a global supplier of system solutions for the manufacture of architectural and automotive glass, the takeover of Armatec, which specialises in laminated safety glass and handling systems, ideally complements the Bystronic portfolio.
The butterflies at Melbourne Zoo have gone upmarket with a new accommodation wing featuring Pilkington glass.
Owens-Brockway Glass Container Inc., an indirect wholly-owned subsidiary of Owens-Illinois, Inc., (NYSE: OI) announced today that is has closed on the sale of $175 million principal amount of its 8-3/4% Senior Secured Notes due November 15, 2012.
UCB reached an agreement with Solutia to acquire Solutia's Resins, Additives & Adhesives activity for $500 million, plus a $10 million exclusivity fee.

Add new comment