Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Material Sciences Q4 Profit Surges On Tax Benefit

Material Sciences Corp. (MASC: Quote) 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.

Click here to receive FREE breaking news email alerts for Material Sciences Corp. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
A number of major retailers will be open on Thanksgiving for early Black Friday shopping events. Kohl's department stores will kick off Black Friday sales two hours earlier this year, at 6 p.m. Thanksgiving Day, while Macy's, Bon-Ton and Best Buy will open at the same time. J.C. Penney and Sears... Twitter Inc. has replaced its head of product Daniel Graf just six months after luring him over from Google, according to multiple reports. Graf, previously known for his work leading Google Maps, will retain his vice president of product title and work on Twitter's geolocation features, the Wall... LinkedIn Corp., the world's largest online professional network, said Thursday after the markets closed that its third quarter loss widened slightly from last year, as higher costs and expenses more than offset a 45% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.