Home / Knowledge / News / Textiles / Cytec announces Q1 2008 results
Cytec announces Q1 2008 results
18
Apr '08
Cytec Industries Inc announced net earnings for the first quarter 2008 of $49.1 million or $1.01 per diluted share on net sales of $973 million.

Included in the quarter are several special items that total $3.4 million expense after-tax or $0.07 per diluted share and are outlined further in this release. Excluding these special items, net earnings were $52.5 million or $1.08 per diluted share.

Net earnings for the first quarter of 2007 were $51.7 million, or $1.05 per diluted share, on net sales of $864 million.

Included in that quarter were several special items that total $14.4 million income after-tax or $0.29 per diluted share and are outlined further in this release. Excluding these special items, net earnings were $37.3 million or $0.76 per diluted share.

Cytec Performance Chemicals Sales increased 2% to $183 million; Operating Earnings increased to $14.2 million.Mr. Lilley continued, “In Cytec Performance Chemicals, overall selling volumes were down 4% primarily due to the final phase of the divestiture of the water treatment product line.

In addition, sales were down in Polymer Additives which reflects our decision to exit certain commodity product lines. Mining and Phosphine Chemicals both increased their volumes. Selling prices increased by 2% and the impact of exchange rates increased sales by 4%.”

“Operating earnings of $14.2 million were up compared to the $13.0 million in the first quarter of 2007. The increase is due primarily to the improved earnings in the Polymer Additives product line resulting from our focus on selling higher-value products plus the benefits of our restructuring initiatives.”

Must ReadView All

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 30th Apr 2017

Government revamping tech mission on cotton

Indian Government is working to revamp the technology mission on...

Apparel/Garments | On 30th Apr 2017

Columbia Sportswear records Q1 net sales of $543.8 mn

Columbia Sportswear Company has announced record net sales of $543.8...

Interviews View All

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Suresh Patel
Sidwin Fabric

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

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Pranav Mishra
Huemn

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

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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:
April 2017

April 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



X