Calgon Carbon said today second-quarter profits rose 17 percent on a 3 percent increase in sales.
The Robinson environmental products and services company reported net income of $15.2 million, or 28 cents per share, on sales of $145.1 million.
The results included a $1.4 million tax benefit.
In the year-ago quarter, the company earned $13 million, or 24 cents per share, on sales of $140.4 million.
In a press release, chairman, president and CEO Randy Dearth said the performance reflected benefits from ongoing cost-improvement initiatives. He expects future sales growth from projects that will increase capacity to produce activated carbon as well as sales to utilities who use the material to remove mercury from power plant emissions. He also expects increased sales of equipment used to treat the ballast water of ships.
The results were disclosed before Wall Street opened. In early trading this morning, Calgon Carbon shares were priced at $20.62, off 82 cents.
Len Boselovic: 412-263-1941 or firstname.lastname@example.org.
First Published August 8, 2014 12:00 AM