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TiO2 producer Kronos reports Q4 turnaround
Mar '17
In the three months ended December 31, 2016, producer of titanium dioxide (TiO2) Kronos Worldwide reported a turnaround in net income. In the fourth quarter of 2016, the company reported net income of $23.2 million, or $.20 per share, as against net loss of $20.4 million, or $.18 per share, in the corresponding quarter of the previous year.

For the full year of 2016, Kronos Worldwide also posted net income of $43.3 million, or $.37 per share, vis-à-vis net loss of $173.6 million, or $1.50 loss per share in the prior year.

In the fourth quarter of 2016, net sales amounted to $333.7 million, up $46.7 million, or 16 per cent from the earlier year's same quarter.

However, full year 2016 sales grew slower at just 1 per cent year over year to $1,364.3 million.

According to the company, net sales surged in the reporting quarter due to higher average TiO2 selling prices and higher sales volumes versus the similar quarter of 2015. (AR)

Fibre2Fashion News Desk – India

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