PaintSquare.com


The First Word in Protective & Marine Coatings

A Product of Technology Publishing / PaintSquare
JPCL | PaintSquare News | Durability + Design | Paint BidTracker

Get Paint BidTracker's Bridge Painting Opportunities of 2015

Paint and Coatings Industry News

Main News Page


Cytec Sees Improvement Over Q2

Wednesday, October 21, 2009

Comment | More

Cytec Industries, Inc., a global specialty chemicals and materials company headquartered in Woodland Park, NJ, announced third quarter net earnings of $12.5 million, including special items. Net earnings in Q3 or 2008 were $46.3 million.

In the coating resins segment, overall selling volumes were down by 16% versus Q3 2008, but volumes improved 12% over the second quarter of 2009. Sales decreased by 23% to $336 million for the quarter compared to 2008. The company estimates a full year operating loss in the range of $10-15 million, down from a prior operating loss of $32-40 million.

The additive technologies segment saw sales decrease by 20% to $65 million, and overall selling volumes were down 18% versus the third quarter of 2008. The company estimates full year operating earnings of $8-10 million, slightly changed from the prior range of $8-12 million.

Selling volumes in the building block chemicals segment increased 22% versus the third quarter or 2008, and operating earnings were $4.8 million compared to an operating loss of $1.3 million in Q3 2008. However, sales decreased by 29% to $99 million. Full year operating earnings are estimated at $12 million, up from a prior estimate of $5 million.

Engineered materials saw a decrease of 24% in sales to $169 million compared to the third quarter of 2008, and the company expects a continued weak demand in the business/regional jet and high performance industrial markets. Full year operating earnings are estimated to be at $85-90 million, down from the prior range of $100-105 million.

Sales for the in process separation segment fell 14% to $71 million, but selling volumes increased 16% compared to the second quarter of 2009. The estimate for full year operating earnings is $30-35 million, down from $32-40 million.

Shane Fleming, chairman, president, and CEO, commented, “Our results this past quarter demonstrate the excellent progress we have made with our restructuring efforts and our working capital initiative.”

   

Tagged categories: Cytec Industries Inc.; Earnings reports; Finance; Resins; Specialty functions

Comment Join the Conversation:

Sign in to our community to add your comments.

ABKaelin, LLC
Quality is our bottom line

Services include:
• Environmental, Health &
  Safety
• Contractor QP Certification
• Quality Assurance Programs
  and Auditing
• SSPC C3/C5 and other
  Training
• Coatings
• Design/Construction
See our website at abkaelin.com or contact us today abkaelin@comcast.com


Polyval Coatings
Polyflex® Polyurea Linings

exhibit outstanding versatility in use; providing abrasion resistance, superior seamless waterproofing and high-chem corrosion protection. www.polyflexlinings.com


Montipower, Inc.
The MBX Bristle Blaster

Get a 2.7 to 3.3 mil profile and a Near White Metal Clean. For info visit www.mbxit.com or call 877 629-8777


KTA-Tator, Inc. - Corporate Office
KTA Analyzes
Coating Failures

• Field Diagnosis
• Lab Diagnosis
• Determination of Cause
• Recommendations
www.kta.com
800-245-6379


Modern Safety Techniques
Modern Safety Techniques

With our unique LTCat, we can help to provide clean, safe breathing air to your workers. Take a look at our Breathing Air Systems, we supply at least twice as much charcoal as our competitors! Modern


Hempel (USA) Inc.
HEMPEL PROTECTIVE COATINGS

Efficient systems and high quality products to reduce your maintenance costs. Visit Hempel Protective for more information.


CS Unitec
Peening Preparation Tools

CS Unitec’s hand-held scarifiers are an ideal alternative to small-area shot blasting for cleaning and preparing concrete & metal surfaces. info@csunitec.com

 
 
 
Technology Publishing

The Technology Publishing Network

The Journal of Protective Coatings & Linings (JPCL) PaintSquare
Durability + Design Paint BidTracker JPCL Europe

 
EXPLORE:      JPCL   |   PaintSquare News   |   Interact   |   Buying Guides   |   Webinars   |   Resources   |   Classifieds
REGISTER AND SUBSCRIBE:      Free PaintSquare Registration   |   Subscribe to JPCL   |   Subscribe to PaintSquare News
MORE:      About PaintSquare.com   |   Privacy policy   |   Terms & conditions   |   Site Map   |   Search   |   Contact Us
 

© Copyright 2000-2014, Technology Publishing / PaintSquare, All rights reserved
2100 Wharton Street, Suite 310, Pittsburgh PA 15203-1951; Tel 1-412-431-8300; Fax 1-412-431-5428; E-mail webmaster@paintsquare.com