Net income attributable to Koppers for the quarter ended March 31, 2013, was $11 million, or $0.53 per diluted share as compared to net income attributable to Koppers of $15.6 million, or $0.75 per diluted share in the 1Q 2012.
Adjusted EBITDA for the quarter ended March 31, 2013, was $33.1 million compared to $36.7 million in the 1Q 2012, due mainly to reduced profitability in Europe driven by lower sales volumes and prices, which more than offset higher profitability for RUPS due mainly to higher sales volumes and favorable product mix for railroad crossties and higher sales volumes and prices for utility poles.
Commenting on the results, Walter W. Turner, president and CEO of Koppers, said, "Our 1Q proved to be rather challenging as our European business struggled more than we had anticipated with the continuing volatility of our end-markets. I am pleased with the strong performance from our global Railroad and Utility Products business; however, the overall results for the quarter ended at the low end of our expectations. While we continue to see uncertainty with the European economy throughout the remainder of the year, I am confident that we have several cost-saving initiatives and productivity improvements underway which will position us to have the strongest earnings year in our history."
Koppers is a global integrated producer of carbon compounds and treated wood products. Including its joint ventures, Koppers operates facilities in the United States, United Kingdom, Denmark, The Netherlands, Australia and China.
