Arch Chemicals Q2 Profit Falls
Biocides company Arch Chemicals, which is in $1.4 billion cash deal to be acquired by Lonza reported that its second-quarter earnings from continuing operations was $37.4 million or $1.47 per share, lower than prior year's $43.5 million or $1.73 per share.
The latest quarter results included a charge of $0.3 million or $0.01 per share, for relocation costs incurred in conjunction with the previously announced research and development consolidation.
Excluding this item, earnings from continuing operations for 2011 were $37.7 million or $1.48 per share.
Analysts polled by Thomson Reuters expected earnings of $1.82 per share for the quarter. Analysts' estimates typically exclude special items.
The company noted that the second-quarter earnings were significantly impacted by lower-than-expected results from the HTH water products business, principally due to timing.
Sales for the second quarter were $443.8 million, compared to $441.4 million for the second quarter of 2010.
