US Rockwood's Q4 adjusted net income up 11%, sales rise 7.8%

03 March 2014 11:54 Source:ICIS News

LONDON (ICIS)--Rockwood Holdings’ fourth-quarter 2013 adjusted net income from continuing operations rose by 11% year on year, with sales up 7.8%, the US-based chemicals producer said on Monday.

The company’s net income for the quarter was $39.5m, up from $35.6m in the same quarter of 2012.

Sales rose to $347m from $322m, the US specialty chemicals producer said.

“For the fourth quarter, Lithium applications and Surface Treatment delivered outstanding performance with both solid top-line growth of about 6% and 15% and adjusted EBITDA margins of 39% and 23%, respectively, said chairman and CEO Seifi Ghasemi.

“This contributed to a record year in terms of sales and adjusted EBITDA [earnings before interest, tax, depreciation and amortisation] for those businesses," he added.

For the full year, Rockwood’s adjusted net income was down 11.8% to $122.8m while sales rose 4% to $1.38bn.

By Graeme Paterson