Chemtura Turns To Profit In Q1, But Misses View - Quick Facts

(RTTNews) - Chemtura Corporation, (CHMT), a maker of specialty chemical solutions, reported first-quarter net earnings of $6 million or $0.06 per share, compared to net loss of $23 million or $0.23 per share in the year-ago period.

Results for the recent quarter included earnings from discontinued operations of $1 million or $0.1 per share, compared with loss from discontinued operations, net of tax of $5 million, or $0.05 per share in the year-ago period.

Loss on sale of discontinued operations, net of tax for the latest quarter, was $5 million, or $0.05 per share.

Excluding items, net earnings from continuing operations on a managed basis were $13 million or $0.13 per share, compared with managed earnings of $17 million or $0.17 per share a year ago.

Net sales for the quarter rose 5 percent to $556 million from $528 million in the prior-year period.

On average, analysts polled by Thomson Reuters estimated earnings of $0.17 per share for the quarter on revenues of $554.72 million. Analysts' estimates typically exclude special items.