03 February 2011 14:08 [Source: ICIS news]
LONDON (ICIS)--Arch Chemicals’ net income surged to $6.2m (€4.5m) in the fourth quarter from $2.7m for the same three-month period in 2009 on the back of a rise in sales, the US-based specialty chemicals company said on Thursday.
Sales for the fourth quarter of 2010 were $311.7m, up 6% from $293.4m in the period ended 31 December.
Quarterly segment operating income was $6.4m in 2010, compared with $3.9m in 2009.
Arch Chemicals said it expected full-year 2011 sales to increase by approximately 5-7% as a result of strong organic growth from its biocides businesses, partially offset by a modest decrease in sales in the non-biocides businesses.
“Operating margins increased by 120 basis points for the year, and we are on target to expand operating margins to exceed 10% by year-end 2013," said chairman, president and CEO Michael Campbell.
($1 = €0.72)
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