Calgon Carbon today reported first-quarter profits and sales in line with analyst estimates.
The Robinson environmental products and services firm said net income totaled $9.8 million, or 18 cents per share, comparable to results in the same quarter a year ago. Sales declined 3 percent to $131.6 million.
Analysts were expecting earnings of 18 cents per share on sales of $131.5 million.
Equipment sales fell 25 percent from year-ago levels because of lower revenue from ballast water treatment systems and traditional ultraviolet systems. Sales of activated carbon and related services, which accounted for about 90 percent of quarterly revenue, fell 1 percent.
In a statement, chairman, president and CEO Randy Dearth said that based on April sales as well as pending and forecast orders, the current quarter “could be one of the best sales quarters in our company’s history.”
The results were disclosed prior to Wall Street opening. Calgon shares finished Wednesday at $19.67, up 10 cents. They are down 5 percent this year.
Len Boselovic: 412-263-1941 or firstname.lastname@example.org