CORRECTED-UPDATE 1-W. R. Grace 1st-qtr profit beats Street
April 25 (Reuters) - W.R. Grace & Co posted a first-quarter profit that topped analysts' estimates, helped by higher pricing of its products, but the chemicals maker said it expects to generate significant U.S. federal net operating losses upon emergence from bankruptcy.
The company said in January its reorganization plan had been approved by a district court, clearing major hurdle for it to emerge from a decade-long bankruptcy protection.
Sales at the company's catalysts technologies segment -- which includes specialty catalysts and additives for refinery, plastics and other chemical process applications -- rose 14 percent in the quarter.
Net income attributable rose 12 percent to $60.9 million, or 80 cents a share, from $54.2 million, or 72 cents a share, a year ago.
Revenue rose 8 percent to $754.4 million.
Excluding items, the company earned 88 cents a share
Analysts on an average were expecting the company to earn 82 cents a share, according to Thomson Reuters I/B/E/S.
(Reporting by Vaishnavi Bala in Bangalore; Editing by Saumyadeb Chakrabarty)((firstname.lastname@example.org within U.S. +1 646 223 8780 outside U.S. +91 80 4135 5800 Reuters Messaging:email@example.com)
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