Calgon Carbon today reported increases in profits for the fourth quarter and all of 2013 despite lower sales.
The Robinson environmental products and services company said fourth quarter income rose 21 percent to $11 million, or 20 cents per share. Sales fell 6 percent to $133.1 million. The company blamed lower sales of activated carbon in Asia, lower sales to the utility market and a strong U.S. dollar, which had a $1.6 million negative impact on sales during the quarter.
Analysts surveyed by Bloomberg were expecting earnings of 19 cents per share on sales of $138 million.
In the year-ago quarter, Calgon Carbon reported net income of $9.1 million, or 16 cents per share, on sales of $141.8 million. The year-ago results included pretax restructuring charges of $2.3 million.
For the year, net income totaled $45.7 million, or 84 cents per share vs. 2012 earnings of $23.3 million, or 41 cents per share. Sales fell nearly 3 percent to $547.9 million.
The results were disclosed before Wall Street opened. Calgon Carbon shares finished Tuesday at $20.94, down 7 cents.
Len Boselovic: firstname.lastname@example.org or 412-263-1941.