Cytec Industries Q2 Profit Down, Lifts FY13 Forecast - Quick Facts

(RTTNews) - Cytec Industries Inc. (CYT) Thursday reported second-quarter profit of $34.6 million or $0.83 per share, down from $40.6 million or $0.86 per share in the same period last year.

Earnings from continuing operations totaled $62.6 million or $1.51 per share, compared to $12.4 million or $0.26 per share last year. Second quarter included loss of $28.0 million or $0.68 per share from discontinued operations.

On average, five analysts polled by Thomson Reuters expected the company to earn $1.18 per share for the quarter. Analysts' estimates typically exclude special items.

Sales improved to $514 million from $404 million last year. Analysts expected revenues of $499.65 million.

Looking ahead, the company has raised its fiscal 2013 outlook to a range of $4.70 to $4.90 per share, up from previous guidance range of $4.50 to $4.75 per share.