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Rockwood profit tops estimates on higher selling prices
August 1, 2012 / 11:40 AM / 5 years ago

Rockwood profit tops estimates on higher selling prices

* Q2 adj EPS $1.24 vs est $1.18

* Q2 rev down 9 pct to $905.6 mln

Aug 1 (Reuters) - Rockwood Holdings Inc, a specialty chemicals producer, reported a better-than-expected quarterly profit on higher selling prices at its lithium, surface treatment and ceramics businesses.

Net income rose to $224.9 million, or $2.90 per share, in the second quarter, from $94.5 million, or $1.24 per share, a year earlier.

Excluding items, the company earned $1.24 per share. Analysts had expected earnings of $1.18 cents per share, according to Thomson Reuters I/B/E/S.

Revenue fell 9 percent to $905.6 million, missing market estimates of $969.5 million.

The company, whose peers include Kronos Worldwide, Sensient Tech, W R Grace and Co and Valhi Inc , said the value of its sales in Europe decreased due to a strong dollar.

Princeton, New Jersey-based Rockwood’s shares closed at $44.22 on Tuesday on the New York Stock Exchange.

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