Chemtura Corp. (CHMT) Thursday reported first-quarter net loss of $21 million or $0.21 per share, compared to profit of $22 million or $0.22 per share last year.
Net earnings from continuing operations attributable to Chemtura on a managed basis dropped to $15 million or $0.15 per share from $18 million or $0.18 per share. On average, six analysts polled by Thomson Reuters expected the company to report earnings of $0.20 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter dropped 2 percent to $606 million from $618 million last year. Analysts estimated sales of $634.85 million for the quarter.
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