PaintSquare.com
      | Connect Follow us on Twitter Like us on Facebook
About | Subscribe | Advertise
  

 

Get Paint BidTracker's Water Facility 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.

SSPC: The Society for Protective Coatings
http://www.sspc.org/

Join SSPC and Enhance
Your Career !


Carboline Company
Hydrocarbon Fire & Jet Fire Protection

Pyroclad X1 is the latest breakthrough in epoxy based intumescent fireproofing technology


Elcometer, Inc.
Elcometer 266
DC Holiday Detector

Easily Finds Pinholes, Flaws & Thin Spots; Safer, More Reliable Testing; Voltage-Adjustable Keypad; Dual-Safety Switch On Handle.


Jessup Manufacturing Company
More Traction for Extreme Marine Conditions

Jessup Safety Track® 3800 Military Grade peel-and-stick non-skid tapes and treads provide extra slip resistance for decks. MIL-PRF-24467C Type XI, Black & Gray.


CHLOR*RID International Inc.
Free Webinar

Learn about soluble salts, along with a discussion on allowable levels.
More information at
www.chlor-rid.com,

800-422-3217


Novetas Solutions
Number 1 Crushed Glass Abrasive in America!

Manufactured from 100% Recycled Glass.
NO Crystalline Silica,
Beryllium & Arsenic
Great White Metal Finish!
4 plants on Navy QPL
Call us at 866-775-6226


NLB Corporation
Rotating water jets increase coverage

NLB lance has rotating water jets (40,000 psi), widening the spray pattern to cover more area. Features air-driven swivel with dual triggers to enhance safety.


Waterjet Technology Association (WJTA)
2015 WJTA-IMCA Conf/Expo Click here to register today!

Nov. 2-4, New Orleans. See the latest advances in automated and handheld UHP waterjetting tools/systems for paint/coating removal, surface prep, industrial cleaning. Exhibits, live demos.


Polyval Coatings
Polyflex® Polyurea Linings

Polyflex™ new Polyurea Geotextile Membrane System has been specifically engineered to protect the environment in containment applications.
www.polyflexlinings.com

 
 
 
Technology Publishing

The Technology Publishing Network

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

 
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 2000-2015, 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