Crompton Confirms Street Earnings Expectation and Announces Conference Call Information.Business Editors MIDDLEBURY, Conn.--(BUSINESS WIRE)--Jan. 21, 2003 Crompton Corporation Crompton Corporation, formerly Crompton and Knowles, is a chemical research, production, sales and distribution company headquartered in Middlebury, Connecticut. The company produces specialty chemicals used for polymers, fire suppressants and retardants, pool and spa water (NYSE NYSE See: New York Stock Exchange : CK) announced today that, subject to completion of the year-end audit, it expects to report fourth quarter net earnings of approximately $2.4 million, or $.02 per share, compared to a loss of $85.4 million, or $.76 per share, in the fourth quarter of 2001. Sales for the quarter were approximately $588 million. Additionally, the Company announced that it expects to achieve First Call consensus of approximately $.09 per share after adjustment for special items in the fourth quarter. Such items on an after-tax basis After-tax basis The comparison basis used to analyze the net after-tax returns on a corporate taxable bond and a municipal tax-free bond. include previously announced facility closures, severance and related costs of approximately $4.0 million and antitrust Antitrust The antitrust laws apply to virtually all industries and to every level of business, including manufacturing, transportation, distribution, and marketing. They prohibit a variety of practices that restrain trade. investigation costs of approximately $3.9 million. Crompton also announced that it will issue final results for the year after 4:00 p.m. Eastern time on February 4, 2003 and will hold a conference call at 9:00 a.m. Eastern time on February 5, 2003. To access the fourth quarter conference call, dial 913-981-5591. Live audio is available on Crompton's investor relations Investor relations The process by which the corporation communicates with its investors. page at www.cromptoncorp.com. Replay of the conference call will be available for two weeks beginning at 2:00 p.m., Wednesday, February 5, by calling 1-719-457-0820, access code 482108. Crompton Corporation is a $2.5 billion global producer and marketer of specialty chemicals A Specialty chemical is a chemical produced for a specialized use. They are produced in lower volume than bulk chemicals, of which petrochemicals, made from oil feedstocks, are the most common. However, both are produced in a chemical plant. and polymer products and equipment. Certain statements made in this release are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties, including, but not limited to, general economic conditions, antitrust investigations, energy and raw material prices and availability, production capacity, changes in interest rates and foreign currency exchange rates, changes in technology, market demand and customer requirements, the enactment of more stringent environmental laws and regulations, and other risks and uncertainties detailed in the Company's filings with the Securities and Exchange Commission. These statements are based on currently available information and the Company's actual results may differ significantly from the results discussed. Forward-looking information is intended to reflect opinions as of the date this release was issued and such information will not necessarily be updated by the Company. |
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