Thursday, Cytec Industries Inc. (CYT) reported fourth-quarter net earnings of $9.8 million or $0.20 per share, compared to a net loss of $350.7 million or $7.39 per basic share in the year ago quarter.
Excluding items, net earnings were $34.4 million or $0.70 per share, compared tot net earnings of $4.7 million or $0.10 per share in the year ago quarter.
On average, seven analysts polled by Thomson Reuters expected the company to earn $0.39 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter was $752 million, down from $698 million in the comparable quarter last year. Analysts expected the company to report revenue of $700.73 million for the quarter.
Looking ahead to the full year 2010, the company expects net sales in the range of $1.25 billion - $1.40 billion and expects operating earnings in the range of $45 million - $60 million in the prior year period. Analysts currently anticipate the company to earn $2.00 per share on revenue of $2.87 billion for the quarter.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.