chemtura corp (CHMT) Key Developments
Platform Specialty Seeks Acquisitions
May 6 14
Platform Specialty Products Corporation (NYSE:PAH) is looking for acquisitions. Platform Specialty Products Corporation intends to use the net proceeds from the $200 million private placement to support future growth and for working capital and other general corporate purposes, which may include Platform Specialty Products Corporation's previously-announced proposed acquisition of Chemtura AgroSolutions owned by Chemtura Corporation (NYSE:CHMT), if completed and the possible acquisition of other businesses.
Chemtura Corporation Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Provides Tax Rate Guidance for 2014
Apr 30 14
Chemtura Corporation announced unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, net sales were $556 million compared to $528 million a year ago. Operating income was $22 million against $2 million a year ago. Earnings from continuing operations before income taxes was $13 million compared to loss from continuing operations before income taxes of $11 million a year ago. Earnings from continuing operations were $10 million or $0.10 per basic and diluted share compared to loss from continuing operations of $18 million or $0.18 per basic and diluted share a year ago. Net earnings was $6 million or $0.06 basic and diluted per share compared to net loss of $23 million or $0.23 basic and diluted per share a year ago. Net cash used in operating activities was $50 million compared to $75 million a year ago. Capital expenditures were $23 million compared to $49 million a year ago. Adjusted EBITDA was $57 million compared to $68 million a year ago. Operating income increase was primarily due to a $10 million increase in gross profit and a $12 million decrease in facility closures, severance and related costs, partly offset by a $2 million increase in other costs. Consolidated net sales were driven by higher sales volume of $31 million, offset by lower selling prices of $1 million and unfavorable foreign currency translation of $2 million.
In 2014, the company is continuing to apply an estimated managed basis tax rate of 31% until such time as the company has evaluated the impact the sale of Chemtura AgroSolutions will have on managed basis tax rate.
Industrial Engineered Products Announces Sales Results for the First Quarter of 2014
Apr 30 14
Industrial Engineered Products announced sales results for the first quarter of 2014. The company reported net sales increased $9 million to $208 million, due to a $13 million increase in sales volume and a $1 million favourable currency translation which was offset by $5 million in lower selling prices for products.
Industrial Performance Products Announces Sales Results for the First Quarter of 2014
Apr 30 14
Industrial Performance Products announced sales results for the first quarter of 2014. The company reported net sales increased $6 million to $247 million, due to a $5 million increase and a $1 million favourable currency translation.
Chemtura Corporation Presents at Houlihan Lokey 9th Annual Global Industrials Conference, May-22-2014
Apr 25 14
Chemtura Corporation Presents at Houlihan Lokey 9th Annual Global Industrials Conference, May-22-2014 . Venue: New York Marriott Marquis, 1535 Broadway, New York, NY 10036, United States. Speakers: Dalip Puri, Vice President of Investor Relations and Treasurer.