Home / Knowledge / News / Textiles / Olin Corp Q2 revenues slip 12.5%
Olin Corp Q2 revenues slip 12.5%
25
Jul '14
Olin Corporation announced that its second quarter 2014 income from continuing operations was $36.6 million, or $0.46 per diluted share, which compares to $43.7 million, or $0.54 per diluted share in the second quarter of 2013.  Sales in the second quarter of 2014 were $570.4 million compared to $652.2 million in the second quarter of 2013.

Second quarter 2014 results included pretax restructuring charges of $2.3 million and a pretax gain for a contract matter of $1.0 million.  Second quarter of 2014 net income included after tax income from discontinued operations of $0.7 million, or $0.01 per diluted share.  This after tax gain reflected the favorable resolution of certain indemnity obligations related to our Metals business sold in 2007.  Second quarter 2014 net income was $37.3 million, or $0.47 per diluted share.

Joseph D. Rupp, Chairman and Chief Executive Officer said, "The high level of commercial demand that was experienced by Winchester in 2013 continued in the second quarter of 2014, and Winchester generated the second highest level of second quarter sales and segment earnings in its history.  We continue to see strong commercial demand in our system, especially for pistol and rimfire ammunition. 

“During the second quarter of 2014, the Chlor Alkali business experienced lower chlorine and caustic soda shipments and prices compared to the second quarter of 2013.  Second quarter 2014 ECU netbacks declined compared to the second quarter of 2013 reflecting both lower chlorine and caustic soda prices.  Second quarter 2014 Chemical Distribution shipments declined compared to the second quarter of 2013.  Second quarter 2014 adjusted EBITDA was $99.1 million.

"Third quarter 2014 net income is forecast to be in the $0.30 to $0.35 per diluted share range, which includes approximately $9.5 million of pretax expense for the call premium and unamortized deferred debt issuance costs related to the $150 million 8.875% Senior Notes due in 2019 that we intend to redeem in the third quarter. 

“We anticipate interest expense savings of approximately $10 million during the first year after the redemption of these notes.  Chlor Alkali third quarter 2014 earnings are expected to decline compared to the third quarter of 2013 due to lower ECU netbacks, partially offset by lower costs.  Last year's Chlor Alkali third quarter earnings included an $11.0 million favorable contract settlement.  Third quarter 2014 Chemical Distribution earnings are expected to improve from the second quarter of 2014, but be lower than the third quarter of 2013. 

Click here to view more.

Olin Corporation


Must ReadView All

Ethiopia’s Kombolcha Industrial Park attracts foreign firms

Apparel/Garments | On 15th Dec 2017

Ethiopia’s Kombolcha Industrial Park attracts foreign firms

Strategic location, modern factory facilities and proximity to the...

Courtesy: 2XU

Apparel/Garments | On 15th Dec 2017

L Catterton Asia announces JV of GXG and 2XU

L Catterton Asia, the Asian unit of the largest and most global...

15 trade associations urge nations to safeguard WTO system

Apparel/Garments | On 15th Dec 2017

15 trade associations urge nations to safeguard WTO system

Fifteen trade and industry associations from across the world have...

Interviews View All

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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

December 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search