Koppers Holdings reported 3Q net income of $16 million
Nov 14, 2012. Koppers Holdings Inc. announced results for its fiscal 3Q 2012. Consolidated sales of $387.9 million for the 3Q 2012 were 2%, or $6.7 million higher than sales in the prior year quarter. Net income attributable to Koppers for the quarter ended September 30, 2012, was $16 million, or $0.77 per diluted share.
Nov 14, 2012. /Lesprom Network/. Koppers Holdings Inc. announced results for its fiscal 3Q 2012. Consolidated sales of $387.9 million for the 3Q 2012 were 2%, or $6.7 million higher than sales in the prior year quarter, as the company said in the press release received by Lesprom Network.
Net income attributable to Koppers for the quarter ended September 30, 2012, was $16 million, or $0.77 per diluted share as compared to net income attributable to Koppers of $22.4 million, or $1.08 per diluted share in the 3Q 2011.
Adjusted net income and adjusted earnings per share for the quarter ended September 30, 2012, were $17.2 million and $0.82 per share compared to $22.2 million and $1.07 per share in the prior year quarter after excluding $1.2 million of after-tax charges related to plant closure costs in the 3Q 2012.
Adjusted EBITDA for the quarter ended September 30, 2012, was $40 million compared to $46.9 million in the 3Q 2011 after excluding $1.9 million of closure costs in the 3Q 2012 for our wood treating plant in Grenada, Mississippi.
Consolidated sales of $1,180.1 million for the nine months ended September 30, 2012, were eight percent, or $82.9 million higher than the prior year period.
Net income attributable to Koppers and diluted earnings per share for the nine months ended September 30, 2012, were $52 million and $2.49 per share, respectively as compared to net income attributable to Koppers of $51.1 million and $2.46 per diluted share for the nine months ended September 30, 2011.
Adjusted net income and adjusted earnings per share were $54.9 million and $2.62 per share for the nine months ended September 30, 2012, compared to $50.9 million and $2.45 per share for the same period in 2011 after excluding $2 million of after-tax charges and $0.8 million of tax expense for 2012, $0.7 million of after-tax gains for 2011, and after excluding the impact of discontinued operations for both periods.
Adjusted EBITDA for the nine months ended September 30, 2012, was $125.9 million compared to $118.5 million for the nine months ended September 30, 2011, after excluding $2.4 million of plant closure costs in 2012 and $0.9 million of gains for the sale of technology in 2011.
Commenting on the results, Walter W. Turner, president and CEO of Koppers, said, "Our 3Q results did not compare favorably to last year's third quarter; however we still expect a strong 4Q which should result in significant earnings improvement for the year over our 2011 full year results. The continued economic downturn in Europe, along with additional unexpected charges associated with a pitch tank leak in Australia and a plant outage in The Netherlands totaling $3.1 million, negatively impacted our 3Q results for the global Carbon Materials and Chemicals business. The Railroad and Utility Products business in both North America and Australia continues to be very strong, and I am pleased to see ongoing strength in product demand for these markets into next year."
Koppers, with corporate headquarters and a research center in Pittsburgh, Pennsylvania, 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.