Home / Knowledge / News / Textiles / Ashland Q4 FY'13 sales fall 7%
Ashland Q4 FY'13 sales fall 7%
06
Nov '13
Ashland Inc., a global leader in specialty chemical solutions for consumer and industrial markets, announced preliminary financial results for the quarter ended September 30, 2013, the fourth quarter of its 2013 fiscal year.

Highlights:

-Earnings from continuing operations total $5.13 per diluted share, which includes an actuarial gain on pension; adjusted earnings, excluding key items, equal $1.54 per diluted share

-Cash flow from operating activities in fiscal 2013 totals $791 million; Free cash flow for full year equals $529 million

- Sale process for Ashland Water Technologies underway

-Company announces expected $150-$200 million global restructuring program to improve competitiveness 

Ashland's results as compared to the year-ago quarter were as follows:

- Volumes were flat;

- Sales declined 7 percent to $1.9 billion;

- Operating income declined 17 percent to $203 million;

- Earnings before interest, taxes, depreciation and amortization (EBITDA) decreased 11 percent to $310 million; and

- EBITDA as a percent of sales decreased 80 basis points to 16.2 percent.

Ashland reported income from continuing operations of $404 million, or $5.13 per diluted share, on sales of $1.9 billion. These results included five key items that together had a net favorable impact on continuing operations of approximately $283 million, net of tax, or $3.59 per diluted share.

The largest key item was a non-cash benefit of $3.98 per share related to an actuarial gain on pension as part of the company's standard year-end re-measurement. Excluding all key items, Ashland's adjusted earnings per share were $1.54.

For the year-ago quarter, Ashland reported a loss from continuing operations of $272 million, or $3.47 per diluted share, on sales of $2.1 billion. The year-ago results included five key items that together reduced income from continuing operations by approximately $422 million, net of tax, or $5.34 per diluted share.

The largest key items were a non-cash charge of $3.88 per share related to an actuarial loss on pension, and a charge of 80 cents per share related to debt refinancing during the quarter. Excluding all five key items, Ashland's adjusted income from continuing operations was $150 million, or $1.87 per diluted share.

Click here to view results

Ashland


Must ReadView All

Pic: Shutterstock

Textiles | On 22nd Oct 2021

China's coal output rises to meet energy shortfalls amid govt measures

China's coal supply has showed signs of picking up with daily...

Pic: Shutterstock

Textiles | On 22nd Oct 2021

Indonesia, China begin feasibility study on coal-to-methanol unit

Indonesia and China recently signed an MoU to conduct a feasibility...

Pic: Shutterstock/TY Lim

Fashion | On 22nd Oct 2021

Balenciaga ranked hottest brand in The Lyst Index Q3 2021

Paris-based luxury fashion house Balenciaga was ranked the hottest...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Occam's razor principle and purpose-driven innovations

Footwear Industry, Footwear Retailers

Footwear Industry
Footwear Retailers

Still struggling to mop up higher sales

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchains will be in heavy use by early adopters by 2025

Susan Bhaktul,

Susan Bhaktul

Established in 2000 as a liaison with the Government of India, Industree...

Vikash & Vishal Pacheriwal,

Vikash & Vishal Pacheriwal

Launched in 2018, Raisin is a contemporary fusion fashion brand that aims...

Susanna Koelblin,

Susanna Koelblin

Founded in 1920, Eastman is a global specialty materials company that...

Frank Heislitz, Freudenberg

Frank Heislitz
Freudenberg

Freudenberg Performance Materials is a leading global manufacturer of...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, a global association of the nonwoven fabrics industry, has been...

 Natacha Defeche, Edana

Natacha Defeche
Edana

Since 1971, EDANA, the International association serving the nonwovens and ...

Sandeep Gonsalves & Sarah Gonsalves, Sarah & Sandeep

Sandeep Gonsalves & Sarah Gonsalves
Sarah & Sandeep

Established in 2012, Sarah & Sandeep is a luxury menswear label...

Raghavendra Rathore, Label Raghavendra Rathore Jodhpur

Raghavendra Rathore
Label Raghavendra Rathore Jodhpur

Being one of the first designers to use the "Brand India" positioning for...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Samatvam, a womenswear brand that blends age-old craftsmanship with modern ...

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

Leave your Comments


October 2021

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


Advanced Search