Calgon Corp. reports jump in quarterly earnings
Calgon Carbon Corp. on Thursday reported quarterly earnings jumped 86 percent mainly because of lower expenses.
The Robinson Township company earned $9.1 million, or 16 cents a share, compared with $4.9 million, or 89 cents a share, the year earlier.
Selling, administrative and research expenses dropped $7 million over the year. The current period included a $2.3 million charge for severance a pension-related expenses and the effects of a cost-improvement program.
The “positive impacts” from that program, which focuses on worldwide operating efficiencies, should continue in 2013, CEO Randy Dearth said in a statement.
Sales increased 2.9 percent to $142 million from $138 million, mainly due to higher sales of water purification products, which was partially offset by negative foreign currency translation from a strong U.S. dollar.
For the full year, earnings fell 41 percent to $23 million, or 41 cents a share, from $39 million, or 69 cents a share. Current results include a $10.2 million restructuring charge from the cost-improvement program.
Sales increased 3.9 percent to $562 million from $542 million, despite a $7.5 million negative impact from foreign currency translation.
Thomas Olson is a staff writer for Trib Total Media. He can be reached at 412-=320-7854 or at email@example.com.