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Restructuring charges weaken Quaker Q4 results with $5.4 mn loss

22 Feb '06

1 min read

Pennsylvania based $400 million dollar company Quaker Chemical Corporation announced record quarterly sales of $107.1 million and a net loss of $5.4 million.

Net loss for the fourth quarter included a $9.1 million pre-tax charge for restructuring and related activities and a $1.0 million tax charge attributable to the repatriation of accumulated earnings of its foreign subsidiaries.

Diluted loss per share for the quarter, inclusive of these charges, was $0.56.

The Company reported record sales for the full year of $424.0 million and net income of $1.7 million.

Net income included a $10.3 million pre-tax charge for restructuring and related activities, $4.2 million of pre-tax income from the sale of property by the Company's real estate joint venture, and a $1.0 million tax charge associated with the aforementioned foreign earnings repatriation.

Diluted earnings per share for the full year, inclusive of these items, was $0.17 per share.

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Quaker Chemical Corporation, headquartered in Conshohocken, Pennsylvania, is a worldwide developer, producer, and marketer of custom-formulated chemical specialty products and a provider of chemical management services for manufacturers around the globe, primarily in the steel and automotive industries.

Quaker Chemical Corporation

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