US Nalco Q1 net earnings rise 6% to $26.1m on higher sales

27 April 2010 22:41  [Source: ICIS news]

HOUSTON (ICIS news)--US water-treatment chemicals producer Nalco reported on Tuesday net earnings of $26.1m (€19.6m), up 6% from $24.7m, as an increase in sales was partially offset by unfavourable Venezuelan currency exchange rates.

Nalco reported first-quarter net sales of $956.6m, up 10% from $868.4m reported for the same time last year. Operating costs and expenses were $833.5m, up 7% from $778.3m for the same time last year.

Nalco also reported an $18m charge connected to the devaluation of the Venezuelan bolivar.

For the year, Nalco expected to report more than $710m in adjusted earnings before interest, tax, depreciation and amortisation (EBITDA).

($1 = €0.75)

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By: Al Greenwood
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