Nalco Holding Co. (NLC) posted third quarter net income of $28.0 million or $0.20 per share, compared to $57.4 million or $0.41 per share in the prior year period. Pro forma earnings attributable to the company was $0.31 per share, compared to $0.36 per share in the preceding year period.
On average, 15 analysts polled by Thomson Reuters expected the company to report earnings of $0.25 per share. Analysts' estimates typically exclude special items.
Pro forma results adjust for a 2008 divestiture gain, a 2009 pension settlement charge and restructuring actions in both periods. Net income and earnings per share were also impacted by a high 45 percent tax rate due to valuation allowances resulting in part from European restructuring actions.
Third quarter revenues declined 14.2% to $0.95 billion from $1.11 billion in the same period last year. Eleven Wall Street analysts expected revenues of $961.26 million.
Further, the company said that a revised pension benefit structure in the United States would result in remaining defined benefit program participants moving to the company's defined contribution programs for service after January 1, 2010.
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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.