Koppers Holdings moves from quarterly loss to profit on stronger sales volumes
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Strong volumes for its railroad and utility pole products helped boost Koppers Holdings' fourth-quarter and year-end results.
Downtown Pittsburgh-based Koppers, which produces chemicals as well as treated wood products, said fourth-quarter profit jumped to $13.6 million, or 65 cents per share, from a net loss of $14.2 million, or 69 cents per share, in the fourth quarter of 2011.
Sales increased by 2 percent to $374.9 million from $369 million a year ago.
Adjusted profit was $13.9 million, or 66 cents per share, beating analysts' average estimate of 60 cents.
The adjusted results were the highest fourth-quarter earnings in the company's history, chief executive Walter Turner said.
He added that Koppers' railroad and utility products segment had its best year ever with a 6 percent sales gain driven mainly by high volumes for utility poles.
For the year, profit rom continuing operations was $65.6 million, or $3.14 per share, up from $36.9 million, or $2.72 per share, in 2011.
Sales for all of 2012 totaled $1.6 billion, compared with $1.5 billion in 2011.
First Published February 14, 2013 10:20 am