PaintSquare.com


The First Word in Protective & Marine Coatings

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

Free Download of

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.

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


GMA Garnet USA
GMA Garnet™
Natural Abrasives

- Superior cleaning
  performance
- Even Profile
- Low Dust
- Cost-Effective
- Environmentally friendly
- Recyclable up to 5 times
Tel : +1 832 243 9300


Spider, a Division of SafeWorks, LLC
Complete Suspended Access Solutions

Need Access? From platforms & hoists to rigging & fall protection, Spider leads the industry in rentals, sales & service.
Call today: 877-774-3370


Minerals Research & Recovery
PREMIUM SLAG ABRASIVES

Visit mrrinc.com Companies specializing
in abandonment and decommissioning projects have discovered that Sharpshot® 20X50 copper slag is an ideal product for subsea waterjet cutting.
Call Steve: 520-297-4626


CS Unitec
Surface Prep Tools for Hazardous Conditions

CS Unitec's Trelawny™
line of surface prep tools
is safe and efficient for
use in marine & protective coatings applications including Ex Zones & Hot Work Zones.


Graco Inc.
Eco-friendly surface prep blasting equipment

EcoQuip blast equipment adds a fine water mist during the spraying process for less dust. Less media consumption. Less cleanup. Easy to use. Call 877.326.7847


Sherwin-Williams

Sherwin-Williams
Our 3,500 locations give you a level of service that is simply unmatched.

 
 
 
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