Quarterly profit up at Calgon Carbon as yearly profit sags

Share with others:


Print Email Read Later

Calgon Carbon today reported higher fourth-quarter profit even as it showed reduced profit for all of 2012.

The Robinson environmental services company reported fourth-quarter profit of $9.1 million, or 16 cents per share, versus profit of $4.9 million, or 9 cents per share, in the year-ago quarter.

Sales rose 3 percent to $141.8 million. The company attributed the increase to sales of activated carbon used to treat drinking water and in respirators.

The results reflected $2.3 million in restructuring charges that were part of a cost-cutting initiative begun after former Lanxess executive Randy Dearth became president and CEO in August.

For all of 2012, Calgon Carbon earned $23.3 million, or 41 cents per share, versus 2011 profit of $39.2 million, or 69 cents per share. Sales increased 4 percent to $562.3 million.

The results were disclosed prior to Wall Street opening. Calgon Carbon shares finished Wednesday at $16.06, off 46 cents.

mobilehome - breaking - businessnews - neigh_west

Len Boselovic: lboselovic@post-gazette.com or 412-263-1941.


You have 2 remaining free articles this month

Try unlimited digital access

If you are an existing subscriber,
link your account for free access. Start here

You’ve reached the limit of free articles this month.

To continue unlimited reading

If you are an existing subscriber,
link your account for free access. Start here