Net income attributable to Koppers for the quarter ended June 30, 2013, was $14.4 million, or $0.69 per diluted share as compared to net income attributable to Koppers of $20.4 million, or $0.98 per diluted share in the 2Q 2012.
Adjusted net income and adjusted earnings per share for the quarter ended June 30, 2013, were $14.7 million and $0.70 per share compared to $22.1 million and $1.05 per share in the prior year quarter after excluding $0.2 million and $0.7 million of after-tax charges in the quarters ended June 30, 2013 and 2012, respectively, and after excluding the impact of discontinued operations for both periods.
Adjusted EBITDA for the quarter ended June 30, 2013, was $37.2 million compared to $49.2 million in the 2Q 2012.
Consolidated sales of $741.3 million for the six months ended June 30, 2013 were 6%, or $50.9 million lower than sales of $792.2 million in the prior year period.
Net income attributable to Koppers for the six months ended June 30, 2013, was $25.4 million, or $1.21 per diluted share as compared to net income attributable to Koppers of $36 million, or $1.72 per diluted share in the first half of 2012.
Adjusted net income and adjusted earnings per share for the six months ended June 30, 2013, were $25.9 million and $1.24 per share compared to $37.6 million and $1.80 per share in the prior year period after excluding $0.5 million of after-tax charges in the first six months of 2013 and after excluding $0.7 million of after-tax charges, $0.8 million of tax expense related to the European consolidation project, and the impact of discontinued operations for the six months ended June 30, 2012.
Adjusted EBITDA for the six months ended June 30, 2013, was $70.4 million compared to $85.9 million in the six months ended June 30, 2012.
Commenting on the results, Walter W. Turner, president and CEO of Koppers, said, "Our 2Q proved to be even more difficult than the first quarter as our European business continues to be challenged by distressed economic conditions and our North American business has been impacted by imports as a result of weak end-market demand in Europe. While I am disappointed with our results for the quarter, I am pleased with the performance from our global Railroad and Utility Products and Services business, which continues to enjoy strong results."
Koppers, with corporate headquarters and a research center in Pittsburgh, Pennsylvania, is a global integrated producer of carbon compounds and treated wood products.
