Arch Chemicals posts Q3 income of $17m from loss

10 November 2008 15:51  [Source: ICIS news]

LONDON (ICIS news)--Arch Chemicals posted a third quarter net income of $17m (€13.3m) compared to a loss of $12.6m in the same period last year, the US-based biocides company said on Monday. 

 

The company posted a 2% drop in third quarter sales to $367.9m, down from $376.5m in the same period last year.

 

“Despite increasingly difficult market conditions, lower demand, and higher raw material and freight costs, I am pleased with our third quarter earnings,” said CEO Michael Campbell.   

 

“We delivered solid results driven by price increases in many of our businesses and by cost-reduction measures,” he added.

 

Arch Chemicals affirmed its 2008 outlook of earnings per share (EPS) between $2.20 and $2.30 and a sales increase of about 2%.

 

($1 = €0.78)

 

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By: Mark Watts
+44 20 8652 3214

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