Home / Knowledge / News / Textiles / Quaker Chemical inks modest 3.5% sales hike in Q2
Quaker Chemical inks modest 3.5% sales hike in Q2
09
Aug '14
For the second quarter of 2014, US-based Quaker Chemical Corporation posted a modest 3.5% increase in net sales to $191.3 million against $184.8 million in the second quarter of 2013.

Quaker’s adjusted EBITDA rose 6% to around $25.8 million in the quarter under review of 2014 compared to $24.5 million in the comparable quarter of 2013.

Earnings per diluted share for the second quarter of 2014 were $1.16 against $1.22 for the same 2013 quarter, which included $0.14 of earnings per diluted share related to the prior year receipt of a mineral oil excise tax refund.

For the period January to June 2014, Quaker’s net sales hiked 3% to $373.0 million from $361.0 million in the comparable 2013 quarter, which includes a 1% negative impact due to foreign exchange rate translation.

Again in the first half of 2014, earnings per diluted share for the first six months of 2014 slipped to $2.13 compared to $2.26 for the first six months of 2013, with non-GAAP earnings per diluted share rising 6% to $2.07 for the first six months of 2014 from $1.96 in the first half of 2013.

Its adjusted EBITDA increased 8% to $49.6 million for the first six months of 2014 from $45.8 million against comparable six months of 2013.

CEO of Quaker Chemical Michael Barry said, "Our 11% growth in non-GAAP earnings is an indication that our business model and competitive positioning continue to serve us well. We experienced good growth in North America and China, a continued modest recovery in Europe after the long economic downturn, and a significant decline in South America, primarily due to exchange rates and poor economic conditions."

Mr. Barry continued, "Looking forward, we expect to see modest growth in most of our major markets, although some countries such as India and Brazil could continue to be challenging. We are also experiencing some increases in our raw material costs.

“Overall, I continue to remain confident in our future and expect 2014 to be another good year for Quaker as we strive to increase revenue and non-GAAP earnings for the fifth consecutive year."

Fibre2fashion News Desk - India

Must ReadView All

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Pakistan's Finance Minister Mohammad Ishaq Dar presenting Budget 2017-18 in National Assembly in Islamabad on May 26. Courtesy: PID, Pakistan

Textiles | On 27th May 2017

Pakistan Budget 2017-18 proposes 4 new measures

To support the textile sector in Pakistan, finance minister Mohammad...

Textiles | On 27th May 2017

Indian exports can touch $325 bn in 2017-18: FIEO

Indian exports are on upward trend in last few months as the country...

Interviews View All

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Kerem Durdag
Biovation II LLC

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

Ashok Desai
Bombay Textile Research Association

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

Jay Ramrakhiani
Occasions Elegance Wear

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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