US Kronos reports $3.6m Q3 loss on lower sales

03 November 2008 23:06  [Source: ICIS news]

HOUSTON (ICIS news)--Kronos incurred a $3.6m (€2.8m) net loss in the fiscal third quarter due to lower sales volumes and higher raw material costs, compared with an $81.2m loss in the same quarter of 2007, the US titanium dioxide (TiO2) producer said on Monday.

Net sales for the quarter ended 30 September were $345.6m, compared with $343.3m in the third quarter of 2007, the company said. The company sold 121,000 tonnes of TiO2 in the third quarter of this year, compared with 138,000 tonnes sold in the same quarter in 2007.

The company's average selling prices were 6% higher in the third quarter compared with the same time last year, Kronos said.   

Kronos third-quarter 2007 loss of $81.2m was due largely to the company’s provision for income taxes.

($1 = €0.78)

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By: Brian Ford
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