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 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.