Cytec Industries Inc. (CYT) Thursday announced third quarter net earnings of $12.5 million or $0.26 per share, compared to $46.3 million or $0.96 per share in the prior year period.
Excluding certain items, net earnings for the period were $27.6 million or $0.57 per share, compared to $51.2 million or $1.06 per share in the year-ago period.
On average, seven analysts polled by Thomson Reuters expected the company to report earnings of $0.34 per share. Analysts' estimates typically exclude special items.
Included in the quarter are several special items that total $15.1 million of net expense after-tax or $0.31 per share.
Net sales for the period were $740 million, compared to $963.0 million in last year quarter. Three Wall Street analysts expected revenues of $710.67 million.
Looking forward, for the fiscal year 2009, the company now expects earnings per share in the range of $0.80 to $1.00, compared to its previous forecast in the range of $0.60 to $0.90. Street analysts expect earnings of $0.81 per share.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.