Home / Knowledge / News / Textiles / Net income at TiO2 producer Kronos turns positive in Q2
Net income at TiO2 producer Kronos turns positive in Q2
11
Aug '14
In the second quarter of 2014 ending June 30, 2014, NYSE-listed Kronos Worldwide, Inc. a global manufacturer of titanium dioxide (TiO2) posted a positive net income, when compared with a net loss in the corresponding period of 2013.

Kronos Worldwide posted net income in second quarter ending June 30, 2014 of $33.1 million, or $.29 per share, compared to a net loss of $33.9 million in the second quarter of 2013.

Kronos attributed the improved results from operations in 2014, mainly to lower raw materials costs, partially offset by lower average TiO2 selling prices and sales volumes in 2014.

Net sales of $443.5 million in the second quarter of 2014 were $37.6 million, or 8%, lower than in the second quarter of 2013.

Kronos said its average TiO2 selling prices were 4% lower in the second quarter of 2014 as compared to the same prior year period.

It added that, TiO2 sales volumes in the second quarter were approximately 8% lower than in the comparable period of 2013, due to lower sales primarily in certain export and European markets.

Fluctuations in currency exchange rates also played a positive impact on net sales, increasing it by approximately $13 million in the second quarter of 2014.

Kronos reported that TiO2 segment profit improved to $47.1 million as compared to a segment loss of $44.1 million in the second quarter of 2013 from effects of lower raw materials and other production costs, lower average TiO2 selling prices and sales volumes and higher production volumes.

Kronos' TiO2 production volumes were 9% higher in the second quarter of 2014 as compared to the second quarter of 2013.

The income tax expense in the second quarter of 2014 includes an aggregate non-cash income tax benefit of $5.7 million or $.05 per share, related to a net reduction in its reserve for uncertain tax positions.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 21st Jul 2017

No shortage of cotton & yarn in country: Minister

There is no shortage of cotton and yarn in the country, and the...

Pic courtesy: Sutlej Textiles & Industries Ltd

Textiles | On 21st Jul 2017

Sutlej Textiles’ Q1 FY18 EBITDA expands to Rs 76.28 cr

Sutlej Textiles and Industries Ltd (STIL), one of India’s largest...

Textiles | On 21st Jul 2017

CAI revises 2016-17 cotton crop to 337.25 lakh bales

Cotton Association of India (CAI) has upwardly revised cotton crop...

Interviews View All

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Mike Hoffman
Gildan Activewear SRL

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

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

July 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

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

Yes No

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

Yes No

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


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



X