Arch Chemicals Q2 net income rises 41% to $43.5m, sales up 17%

04 August 2010 14:10  [Source: ICIS news]

TORONTO (ICIS)--Arch Chemicals reported second-quarter net income of $43.5m (€33.1m), up 41% from $30.9m in the year-earlier period, as sales rose 17% to $441.4m, the US specialty chemicals firm said on Wednesday.

The quarter’s total segment operating income was $69.1m, up from $49.0m in 2009 second quarter.

Arch said the significant year-over-year improvement in sales and operating results was driven by strong demand in its core biocides businesses, particularly water products, personal care and industrial biocides.

Arch’s wood protection business also improved as demand rose while raw material costs were lower. However, the US housing and construction market remained weak, the company said.

For the full 12 months of 2010, Arch expected sales to increase by 9-11% from 2009, it said.

Full-year earnings per share were expected to reach $2.25-$2.40, it said. This compares with Arch's earlier earnings per share guidance of $1.90-$2.10.

($1 = €0.76)

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By: Stefan Baumgarten
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