Arch Chemicals Q1 net income stays unchanged at $11.8m, sales rise 9%

04 May 2011 14:37  [Source: ICIS news]

HOUSTON (ICIS)--Arch Chemicals reported 2011 first-quarter net income unchanged at $11.8m (€7.9m) but sales rose 9% year on year to $325.5m, the US biocides firm said on Wednesday.

Arch Chemicals’ segment operating income for the three months ended 31 March fell to $11.9m, from $13.1m in the 2010 first quarter, partly due to delayed demand for the company’s anti-dandruff biocides and one-time costs in its wood protection business.

“The reduced shipments of our biocides for anti-dandruff products in the quarter were due to timing, and based on discussions with our customer, we expect 2011 total volumes to be higher on a year-over-year basis,” CEO Michael Campbell said.

In its outlook, Arch said it expects the biocides segment to improve in the second quarter, primarily because of better results in the wood protection business, which should benefit from improved pricing in North America and Europe.

In addition, biocide volumes would benefit from “a moderate recovery in the US housing and construction markets,” the company said.

($1 = €0.67)

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By: Stefan Baumgarten
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