UPDATE 1-Olin says 4th quarter earnings fell
(Adds details)
NEW YORK, Jan 29 (Reuters) - The Olin Corp. (OLN.N), a maker of metals and chemicals, posted lower quarterly net income on Monday and said it expects to post even lower earnings next quarter.
Clayton, Missouri-based Olin said net income in the fourth quarter was $26.8 million, or 37 cents a diluted share, compared with net income of $32.6 million, or 45 cents a diluted share, a year earlier.
Analysts were expecting net income of 26 cents a share in the quarter. The company had previously forecast it would generate 25 cents in the fourth quarter and said it was "pleased" to have exceeded its previous forecast.
Olin said first-quarter 2007 earnings are expected to be about 25 cents per share, due to "softness" in both the chlor alkali and metals business.
Olin said sales in the fourth quarter rose to $748.4 million from $604.1 million in the period a year ago.
The company said its earnings exceeded its previous forecasts from "better than expected" results in the metals and Winchester business and other items.
