logo
Share SHARE
FONT-SIZE Plus   Neg

Material Sciences Q4 Profit Surges On Tax Benefit

Material Sciences Corp. (MASC) Friday said its profit for the fourth quarter increased, due mainly to a huge income tax benefit.

The Elk Grove Village, Illinois-based company reported a fourth-quarter net profit of $17.56 million or $1.65 per share, compared to $2.39 million or $0.18 per share last year. Profit included an income tax benefit of $15.60 million.

Adjusted net income for the quarter dropped to $2.04 million from $2.33 million last year.

Total revenues for the quarter grew 1.1 percent to $32.27 million from $31.92 million in the prior-year quarter.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Shares of Tractor Supply Co. (TSCO) slipped over 7 percent in the extended hours after the company issued a weak second-quarter guidance and lowered its annual outlook, due to weak sales of its seasonal products. For the second quarter, the company now expects earnings of $1.15 to $1.16 per share... Hard-disk driver maker Seagate Technology plc (STX) late Wednesday said it was cutting 1,600 jobs or about 3% of its global workforce to curb expenses. The company expects to save about $100 million a year, having a favorable impact on cost of revenue and operating expenses by about $48 million and... PepsiCo Inc. (PEP) is bringing back Crystal Pepsi, the colorless soda launched in 1992, a move that the food and beverages giant expects will boost its slowing sales. The 1990s-era clear soda will go on sale in 20-ounce bottles for a limited time at major retailers starting July 7 in Canada and August...
comments powered by Disqus
Follow RTT