Printer Friendly

NALCO REPORTS INCREASED THIRD QUARTER SALES AND EARNINGS

 NALCO REPORTS INCREASED THIRD QUARTER SALES AND EARNINGS
 NAPERVILLE, Ill., Oct. 26 /PRNewswire/ -- Nalco Chemical Company (NYSE: NLC) reported that third quarter sales increased 10 percent, while earnings from continuing operations increased 5 percent from year- earlier results.
 Sales from continuing operations for the third quarter were up 10 percent to a record $349.5 million vs. restated sales of $316.8 million from the year-ago quarter. Sales for the first nine months were $1.02 billion, a 13 percent increase over year-earlier restated sales of $902.7 million.
 Earnings from continuing operations were $34.8 million for the third quarter, or 43 cents a share on a fully diluted basis, up 5 percent over earnings of $33.3 million or 41 cents a share from the year-ago quarter. Net earnings for the quarter were $34.8 million or 43 cents a share fully diluted, comparable to last year's $34.7 million or 43 cents a share. Earnings from continuing operations for the first nine months were $104.2 million, or $1.29 a share on a fully diluted basis, up 7 percent over the $97.7 million, or $1.22 a share from a year earlier. Net earnings were up 4 percent through the first nine months.
 Domestically, the Process Chemicals Division recorded strong results with double-digit sales increases by Absorbent Chemicals, the Pulp and Paper Chemicals Group, and Mining and Mineral Processing Chemicals. In the Water and Waste Treatment Division, the Utility Chemicals Group had a solid double-digit increase followed by WATERGY(R) and UNISOLV(R), which had good gains. For the Petroleum Chemicals Division, the Additives Group and RPC Chemicals Group turned in double-digit sales increases.
 Nalco's International Operations overall had a 13 percent increase in third quarter sales. The company's European operations posted a 17 percent sales increase, Pacific Rim operations turned in a 16 percent sales increase, and an 11 percent sales increase was recorded by the Latin American operations.
 Commenting on operations, W.H. Clark, Nalco chairman and chief executive officer, said: "The U.S. economy appears to be gradually improving. I wish it would hurry up and get with it. Even with this glacial-speed recovery, we continue to gain new business and strengthen our large customer base.
 "We continue to take advantage of new opportunities in Europe where we recently announced the formation of new companies in Czechoslovakia and Hungary. We also broke ground on our new European Business and Technical Center in Leiden, Holland."
 NALCO CHEMICAL COMPANY
 Summaries of Consolidated Earnings
 (In thousands, except per-share figures)
 Periods ended Three months Nine months
 Sept. 30 1992 1991 1992 1991
 Net sales $349,528 $316,849 $1,016,284 $902,668
 Operating costs and
 expenses:
 CPS 157,059 142,958 454,884 408,548
 GS and A 129,128 115,817 371,517 330,871
 Total 286,187 258,775 826,401 739,419
 Operating earnings 63,341 58,074 189,883 163,249
 Other income
 (expense):
 Interest income 3,590 4,189 12,261 11,888
 Interest expense (10,175) ( 8,035) (30,940) (18,275)
 Earnings before taxes 56,756 54,228 171,204 156,862
 income taxes 22,250 21,020 67,430 62,230
 Earnings from consolidated
 operations 34,506 33,208 103,774 94,632
 Equity in earnings -
 affiliated companies 300 86 462 3,028
 Earnings from continuing
 operations 34,806 33,294 104,236 97,660
 Discontinued operations,
 net of taxes -- 1,364 -- 2,718
 Net earnings 34,806 34,658 104,236 100,378
 Per common share
 earnings - primary:
 Continuing operations $.45 $.44 $1.36 $1.29
 Discontinued operations -- .02 -- .03
 Net earnings .45 .46 1.36 1.32
 Earnings - fully diluted:
 Continuing operations .43 .41 1.29 1.22
 Discontinued operations -- .02 -- .03
 Net earnings .43 .43 1.29 1.25
 Cash dividends .21 .21 .63 .62
 Average primary shares
 outstanding 71,052 70,359 71,002 70,277
 Average fully diluted
 shares outstanding 79,330 78,761 79,282 78,682
 -0- 10/26/92
 /CONTACT: Paul Cholette of Nalco Chemical Company, 708-305-1147/
 (NLC) CO: Nalco Chemical Company ST: Illinois IN: CHM SU: ERN


CK -- NY057 -- 4743 10/26/92 11:44 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 26, 1992
Words:698
Previous Article:ACTION PRODUCTS INTERNATIONAL REPORTS RECORD SALES AND OPERATING INCOME FOR THIRD QUARTER AND NINE MONTHS
Next Article:NEWELL CO. ANNOUNCES AGREEMENT TO DIVEST CLOSURES BUSINESS
Topics:


Related Articles
NALCO REPORTS HIGHER SECOND QUARTER SALES/EARNINGS
NALCO REPORTS RECORD FOURTH QUARTER SALES AND EARNINGS
NALCO CHEMICAL COMPANY REPORTS STRONG THIRD QUARTER SALES AND EARNINGS
NALCO REPORTS STRONG FIRST QUARTER SALES AND EARNINGS AND A DIVIDEND INCREASE
NALCO REPORTS STRONG SECOND QUARTER SALES AND EARNINGS RESULTS
NALCO REPORTS STRONG THIRD QUARTER SALES AND EARNINGS
NALCO ANNOUNCES 1995 EARNINGS AND SALES INCREASES; SUPERABSORBENT CHEMICALS OPERATION DISCONTINUED
NALCO CHEMICAL COMPANY REPORTS FIRST QUARTER SALES AND EARNINGS
Nalco Chemical Company Reports Record Sales And Earnings For The Third Quarter And First Nine Months
Nalco Chemical Company Trims Third and Fourth Quarter Earnings Estimates; Announces $30.0 Million Cost Reduction Program to Continue Earnings...

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters