Rockwood Holdings Inc. (ROC) reported that its first-quarter net income attributable to shareholders decreased to $18.9 million or $0.24 per share, from $75.8 million or $0.94 per share last year. The company reported higher sales, but lower gross profit and operating income for the quarter, compared to last year. Net sales increased to $934.6 million from $909.5 million last year.
Adjusted net income decreased to $54.4 million or $0.68 per share, from $98.7 milion or $1.23 per share prior year. On average, nine analysts polled by Thomson Reuters expected the company to report profit of $0.68 per share for the quarter. Analysts' estimates typically exclude special items. Analysts expected revenue of $908.67 million for the quarter.
The company said, its quarter on quarter performance was down on weak results from Titanium Dioxide Pigments, and to a lesser extent, Performance Additives, which was slightly offset by improved results from Lithium and the Advanced Ceramics medical business.
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