Minerals Technologies Q4 Profit Drops

(RTTNews) - Minerals Technologies Inc. (MTX) reported that its fourth quarter net income attributable the company dropped to $20.0 million or $0.62 per share from $41.1 million or $1.23 per share in the prior year.

Quarterly earnings per share, excluding special items, were $0.67 compared with $1.25 in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.19 per share for the quarter. Analysts' estimates typically exclude special items.

But worldwide net sales for the quarter were $507.6 million, up 6 percent versus the prior year. On a constant currency basis, sales grew 13 percent versus the prior year, as foreign exchange had an unfavorable impact of $30 million. Analysts expected revenue of $516.83 million for the quarter.