Home / Knowledge / News / Textiles / Net income slips at Westlake Chemicals in Q4
Net income slips at Westlake Chemicals in Q4
24
Feb '17
For the three months ended December 31, 2016, net income at US petrochemicals producer Westlake Chemical Corporation slipped to $98.9 million, or $0.76 per diluted share, as against $111.0 million, or $0.84 per diluted share in the fourth quarter of 2015. Net sales in the reporting quarter however, surged 76 per cent year on year to $1,735.2 million.

According to the company, pre-tax unabsorbed fixed manufacturing costs and other costs associated with planned turnaround and unplanned outages of various plants resulted in decline in net income.

While, net sales for the fourth quarter of 2016 increased over the prior year’s same quarter, primarily due to sales contributed by Axiall, which it acquired earlier in the year.

Income from operations for the quarter under review was down at $152.7 million, compared to $181.1 million in the corresponding period of the earlier year, primarily as a result of the transaction and integration related costs, and impact from the planned turnarounds and unplanned outages. (AR)

Fibre2Fashion News Desk – India


Must ReadView All

GST Council allows ITC refund to fabrics

Textiles | On 23rd Jul 2018

GST Council allows ITC refund to fabrics

The Goods and Services Tax (GST) Council at its 28th meeting held...

GST slashed on Chenille fabrics, knitted cap to 5%

Textiles | On 23rd Jul 2018

GST slashed on Chenille fabrics, knitted cap to 5%

The Goods and Services Tax (GST) on Chenille fabrics and other...

Courtesy: Pexels

Apparel/Garments | On 23rd Jul 2018

Turkey aims to export apparel worth $25 bn in 5 years

Turkey aims to increase its apparel exports by 50 per cent in 2018...

Interviews View All

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Himanshu Jariwala

J Korin started as a partnership firm with four powerlooms in the textiles ...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search