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.
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments â either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.