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ROHM AND HAAS COMPANY REPORTS SECOND QUARTER EARNINGS

 PHILADELPHIA, July 19 /PRNewswire/ -- Rohm and Haas Company (NYSE: ROH) today announced second quarter 1993 earnings of $63 million, a 15 percent decline from the comparable figure for last year.
 Earnings per common share were $.90, down 19 percent. Sales for the quarter were $884 million, a 13 percent increase from the $783 million reported for the second quarter of 1992. Acquisitions completed during the second quarter of 1992 were responsible for approximately 70 percent of the sales gain.
 Worldwide shipping volumes were up 15 percent during the quarter, reflecting increases in all regions and in every business except Separation Technologies. Volume remained up more than 7 percent even when the effects of acquisitions (Shipley and Unocal) and a sale (Supelco) made during the past year were excluded.
 "The increase in our shipments confirms the underlying strength of our businesses," said J. Lawrence Wilson, chairman of the board. "Volume increases for the Polymers, Resins and Monomers (PRM) and Agricultural Chemicals businesses were especially strong during the quarter. However, earnings were hurt by stop-and-go growth in the U.S. economy and poor economic conditions in Europe and Japan."
 Rohm and Haas felt the brunt of these economic conditions primarily in the form of lower prices and unfavorable currency translations compared to last year's second quarter. Selling prices declined 2 percent, while European currencies were down 6 percent. Raw material costs also declined by 3 percent, but this was not enough to offset the effect of selling prices and currencies.
 The company also recorded a net charge of 11 cents per share for unusual items in the quarter. These included a gain on the sale of the
Supelco subsidiary and writedowns linked to cancelling construction -- of a plastics facility in England and the restructuring of emulsion plants in the United States.
 For the first six months of the year, Rohm and Haas reported earnings of $122 million, a 7 percent decrease from the first six months of 1992. Earnings per common share were down 11 percent. Sales were $1.7 billion, up 14 percent from a year ago.
 "The track record of the first six months makes us less optimistic about our outlook for the year," said Wilson. "If we continue to see a slow U.S. recovery, strengthening of the U.S. dollar and continued poor economies in Europe and Japan, then we will be coping with strong downward pressure on global selling prices for the rest of the year. These challenges will make it difficult for us to surpass our 1992 earnings performance."
 ROHM AND HAAS COMPANY AND SUBSIDIARIES
 STATEMENTS OF CONSOLIDATED EARNINGS
 (in millions of dollars, except per-share amounts)
 Periods Ended June 30 Quarter Six Months
 Percent Percent
 1993 1992(A) Change 1993 1992(A) Change
 Net sales $884 $783 13 $1,710 $1,497 14
 Cost of sales 572 493 16 1,096 934 17
 Gross Profit 312 290 8 614 563 9
 Selling and
 administrative 144 126 14 289 248 17
 Research and
 development 53 47 13 101 95 6
 Interest 11 14 (21) 23 27 (15)
 Share of net losses
 of affiliates (2) --- --- (5) --- ---
 Other income
 (expense), net (5) 10 --- (7) 11 ---
 Earnings before taxes 97 113 (14) 189 204 (7)
 Income taxes 34 39 (13) 67 73 (8)
 Earnings before
 cumulative effect
 of accounting
 changes 63 74 (15) 122 131 (7)
 Cumulative effect
 of accounting
 changes --- --- --- --- (179) ---
 Net earnings (loss) 63 74 (15) 122 (48) ---
 Net earnings (loss)
 applicable to common
 shareholders 61 74 (18) 118 (50) ---
 Net earnings (loss)
 per common share
 (in dollars):
 Before cumulative
 effect of accounting
 changes $.90 $1.12 (19) $1.75 $1.97 (11)
 Cumulative effect of
 accounting changes --- --- --- --- (2.73) ---
 Net earnings (loss) .90 1.12 (19) 1.75 (.76) ---
 Average common shares
 outstanding (000's)67,622 66,351 67,602 65,418
 (A) Restated to reflect adoption of new accounting standards for postretirement benefit costs and income taxes in the fourth quarter of 1992, effective Jan. 1, 1992.
 PHYSICAL VOLUME CHANGE
 Current Quarter Relative Current Year Relative
 To Year-Earlier Quarter To Prior Year
 BUSINESS GROUP Percent Change BUSINESS GROUP Percent Change
 Polymers, Resins Polymers, Resins
 and Monomers 15 and Monomers 20
 Plastics 5 Plastics 6
 Performance Chemicals 23 Performance Chemicals 24
 Agricultural Chemicals 20 Agricultural Chemicals 21
 WORLDWIDE 15 WORLDWIDE 18
 CUSTOMER LOCATION CUSTOMER LOCATION
 North America 16 North America 21
 Europe 5 Europe 4
 Pacific 36 Pacific 32
 Latin America 13 Latin America 20
 WORLDWIDE 15 WORLDWIDE 18
 ROHM AND HAAS COMPANY AND SUBSIDIARIES
 Sales By Business Group And Customer Location
 (Millions of dollars)
 Periods ended Quarter Six Months
 June 30 1993 1992 1993 1992
 BUSINESS GROUP
 Polymers, Resins
 and Monomers $ 410 $ 379 $ 777 $ 704
 Plastics 146 150 286 290
 Performance Chemicals 196 140 388 278
 Agricultural Chemicals 132 114 259 225
 Total 884 783 1,710 1,497
 CUSTOMER LOCATION
 North America $ 499 $ 450 $ 963 $ 833
 Europe 212 204 416 414
 Pacific 116 76 223 154
 Latin America 57 53 108 96
 Total 884 783 1,710 1,497
 NET EARNINGS(A) BY BUSINESS GROUP AND CUSTOMER LOCATION
 (Millions of dollars)
 Periods ended Quarter Six Months
 June 30 1993 1992(B) 1993 1992(B)
 BUSINESS GROUP
 Polymers, Resins
 and Monomers $ 39 $ 45 $ 75 $ 81
 Plastics (C) (9) 15 (1) 25
 Performance Chemicals (D) 21 8 28 16
 Agricultural Chemicals 22 16 40 28
 Corporate (10) (10) (20) (19)
 Total 63 74 122 131
 CUSTOMER LOCATION
 North America (D) $ 54 $ 49 $ 96 $ 82
 Europe (C) 6 23 24 48
 Pacific 8 6 13 11
 Latin America 5 6 9 9
 Corporate (10) (10) (20) (19)
 Total 63 74 122 131
 Notes:
 Corporate includes non-operating items such as interest income and expense.
 (A) Net earnings for the six months ended June 30, 1992, are before a charge of $179 million for the cumulative effect of accounting changes.
 (B) 1992 results have been restated to reflect new accounting standards for post retirement benefits and income taxes.
 (C) Includes an after-tax charge of $16 million due to cancellation of construction of a plastics facility in England.
 (D) Includes an after-tax gain of $11 million for the sale of Supelco, Inc.
 /delval/
 -0- 7/19/93
 /CONTACT: Laura L. Hadden of Rohm and Haas, 215-592-3054/
 (ROH)


CO: Rohm and Haas Company ST: Pennsylvania IN: CHM SU: ERN

JM-LJ -- PH009 -- 2993 07/19/93 10:59 EDT
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Date:Jul 19, 1993
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