Olin announces second quarter earnings.
Olin Corp. announced in July that its net income in the second quarter of 2006 was $33 million, compared to $32.1 million in the second quarter of 2005.
Sales in the second quarter were $826.4 million, compared with $593.7 million in the same quarter of 2005. First half of 2006 sales of $1.55 billion increased from $1.15 billion in the first half of 2005.
"Sales increased by $232.7 million from the second quarter of 2005, due primarily to the impact of higher metal prices," said Joseph D. Rupp, Olin chairman, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Second quarter earnings of $0.45 per-diluted-share reflected continued strong performance from our Chlor Alkali alkali (ăl`kəlī) [Arab., al-gili=ashes of saltwort], hydroxide of an alkali metal. Alkalies are readily soluble in water and form strongly basic solutions with a characteristic acrid taste. business. Winchester's results improved substantially over the second quarter of 2005 and helped offset lower metals profits."
In the third quarter of 2006, Olin expects earnings to be in the $0.60 per-diluted-share range.
Winchester Ammunition's second quarter 2006 sales were $85.7 million, compared to $80.4 million in the second quarter of 2005. The increase reflects the combination of higher selling prices, which increased approximately $4 million year-over-year, and higher commercial volume, according to according to
1. As stated or indicated by; on the authority of: according to historians.
2. In keeping with: according to instructions.
Winchester's segment income in the second quarter was $3.3 million, compared to a breakeven level in the second quarter of 2005. Olin reports that the favorable fa·vor·a·ble
1. Advantageous; helpful: favorable winds.
2. Encouraging; propitious: a favorable diagnosis.
3. impact of increased selling prices, higher sales volume and lower manufacturing costs more than offset the continued increase in commodity and other material costs.