07 March 2011 23:42 [Source: ICIS news]
HOUSTON (ICIS)--US specialty chemicals producers Chemtura reported on Monday a fourth-quarter loss of $367m (€264m) because of charges it paid as part of its exit from Chapter 11 bankruptcy protection.
The company emerged from bankruptcy protection in November.
Chemtura reported a loss of $94m for the same time in 2009.
The company's gross profit, which excludes the bankruptcy charges, was $164m, down slightly from $166m reported for the same time in 2009. Chemtura attributed the drop to higher costs for feedstocks and energy, which offset an increase in net sales.
Fourth-quarter net sales were $680m up from $598m for the same time in 2009.
For all of 2010, Chemtura reported a net loss of $586m, compared with a loss of $293m for 2009.
Gross profit was $657m, up from $579m for 2009.
Chemtura produces agricultural chemicals, plastic additives, petroleum additives, pool chemicals and urethane chemicals.
($1 = €0.72)
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