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 20th Aug 2017

PetroVietnam, Vinatex discuss reviving PVTEX plant

Discussions are under way between PetroVietnam and textile and...

Courtesy: Mexx

Fashion | On 20th Aug 2017

RNF acquires Mexx fashion brand

RNF, the Dutch sports and fashion holding, has purchased the global...

Textiles | On 20th Aug 2017

Intertextile Shanghai Home Textiles opens on August 23

Intertextile Shanghai Home Textiles, Asia’s leading platform to meet...

Interviews View All

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

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

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Eric Scholler
Groz-Beckert

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

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Sidharth Sinha
Sidharth Sinha

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

Robert Brunner
Devereux

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

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

August 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
66.7%
No
16.7%
Skip
16.7%

Total Votes: 30

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
43.3%
No
36.7%
Skip
20.0%

Total Votes: 30

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
83.3%
No
6.7%
Skip
10.0%

Total Votes: 30

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
60.0%
No
10.0%
Skip
30.0%

Total Votes: 30


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