Rohm and Haas Affirms Third Quarter Outlook
PHILADELPHIA, Sept. 20 -- Rohm and Haas Company today affirmed its comfort with the First Call consensus earnings estimate of $.23 per share for the current earnings period. Chairman Raj Gupta said that continued softness in the performance of the Electronic Materials business is being offset by a combination of gains in segments of the Performance Polymers business, lower spending across the company, and lower interest expense.
Gupta noted that most of the Company's businesses are still reporting volume demand below last year's levels, but that demand is returning to more seasonal patterns in all but the electronics industry. The Coatings business is reporting strong sales in Europe and Asia, and better-than-expected sales in North America. Plastics Additives sales remain steady with second quarter levels. Sales in the Adhesives and Sealants business for pressure sensitive tapes and labels and transportation applications are holding up as well. The Morton Salt business continues to report good demand and sales overall. Electronic Materials sales overall currently are tracking about 10 percent behind second-quarter levels. This business will be at or near break-even profits for the current period. While demand for printed wiring board materials is showing some signs of improvement in Asia-Pacific, sales of products for the semiconductor market continue to soften. Chemical Specialties revenues are slightly off due to softness in water-treatment markets in Asia, as well as some segments of the industrial processing markets. Gupta noted that Rohm and Haas has been extremely fortunate in that its business processes have seen essentially no disruption as a result of last week's terrorist attacks in the United States, and that all of its employees have been able to return home safely. He noted that, while it's too soon to predict any impact of the attacks on world economies, his business managers are actively involved in proactive discussions with suppliers and customers about possible contingency plans. ``We want to make certain we have the best possible line of sight to further changes in economic signals so that we can respond quickly and appropriately to changes in demand,'' Gupta said. Rohm and Haas will report its third quarter earnings on October 22nd after the close of the market. This will be followed by a teleconference on October 23rd at 11:00 a.m. EDT. This release contains forward looking statements. Actual results could vary materially, due to changes in current expectations. The forward-looking statements contained in this announcement concerning demand for products and services, sales and earnings growth, actions that may be taken to improve financial performance, involve risks and uncertainties, and are subject to change based on various factors, including the impact of changes in worldwide and national economies, the cost and availability of raw materials and natural gas, as well as other energy sources, and the ability to achieve price increases to offset such cost increases, development of operational efficiencies, changes in foreign currencies, changes in interest rates, the continued timely development and acceptance of new products and services, the impact of competitive products and pricing, and the impact of tax and other legislation and regulation in the jurisdictions in which the company operates. Further information about these risks can be found in the company's SEC 10-K filing of March 27, 2001. Rohm and Haas (www.rohmhaas.com) is a Philadelphia-based specialty chemical company which makes products that quietly improve the quality of life through products for the personal care, home and construction markets, and the electronics industry. The company has annual sales of more than $6 billion and operations in more than 25 countries.
Industrial Microwave Expands Board of Directors to Five MORRISVILLE, N.C.--June 13, 2001-- Two additions add food and industrial expertise Bristol-Myers Squibb to acquire DuPont Pharmaceuticals for $7.8 BillionNEW YORK (June 7, 2001)-- Bristol-Myers Squibb Company (NYSE: BMY) today announced a definitive agreement to purchase the DuPont Pharmaceuticals Company, a wholly-owned subsidiary of DuPont (NYSE: DD), for $7.8 billion. Ener1, Announces the Appointment of Chief Operating Officer of Worldwide OperationFORT LAUDERDALE, Fla. & LA SPEZIA, Italy----June 11, 2001-- Mobile Power and Clean Energy Solutions Provider Announces the Promotion of Its VP of Finance and Operations to Chief Operating Officer Piedmont Plastics Selects Adonix X3 Enterprise Management SystemPITTSBURGH--June 11, 2001--One of the largest plastics distributor and fabricator in the United States will now be able to manage its product inventories more efficiently. Piedmont Plastics has selected Adonix X3 as its enterprise management suite. Red Meteor adds customer indications functionality to exchange platformHOUSTON (June 11, 2001) – RedMeteor (redmeteor.com), a provider of Internet and voice brokerage services for physical crude oil and wholesale refined products, is to offer its customers the ability to provide price indications as well as firm bids and offers via its exchange. Emerson Process Management Expands Its `Early Warning' Capabilities For Plant DiagnosticsAUSTIN, Texas--June 11, 2001-- Alliance With Nexus Engineering Makes Emerson Exclusive Automation Supplier of Nexus Oz(tm) Decision Support Software DuPont implements collaborative commerce applicationHOUSTON (June 12, 2001) – DuPont Cyrel (www.dupont.com/cyrel), a division of E.I. du Pont de Nemours and a leading manufacturers of flexographic printing systems, has implemented a collaborative commerce and planning application using software from EC Outlook. Solvay confirms Elemica transactionsBRUSSELS (June 12, 2001) -- Solvay (www.solvay.com) has announced the completion of contract business using enterprise resource resource planning (ERP) connections on Elemica (www.elemica.com), an online hub for the contract buying and selling of chemicals. ChemConnect partners with China Chemical City on the InternetSAN FRANCISCO, California (July 2, 2001) – ChemConnect (chemconnect.com), a provider of end-to-end e-commerce solutions for buyers and sellers of chemicals and plastics, has partnered with China Chemical City on the Internet (CCCOI), a Chinese online exchange, to establish ChemConnect China. Eastman Expects Lower Second-Quarter EarningsKINGSPORT, Tenn.-- July 2, 2001--Eastman Chemical Company announced today that it anticipates earnings for second quarter 2001 will be lower than the estimate given in its April 26, 2001, first-quarter earnings release and its Form 10-Q filing but higher than first-quarter earnings of $0.48 per diluted share. Based on preliminary information, Eastman expects that second-quarter earnings per share will be in the range of $0.53 to $0.57 before certain nonrecurring charges. Applied Extrusion Technologies, Inc. Completes Acquisition of Assets of QPF, LLCBOSTON--July 2, 2001--Applied Extrusion Technologies, Inc. (Nasdaq: AETC) today announced that it has completed its acquisition of certain assets of QPF, LLC, the oriented polypropylene (OPP) films business of Hood Companies. Assets acquired include the machinery and equipment, intellectual property, intangibles and inventory of the business. Global Economic Slowdown Affects DuPont Second Quarter EarningsWILMINGTON, Del, July 02, 2001 — DuPont said today that it estimates earnings per share for the second quarter, before one-time items, to be between $.35 and $.45. Earnings in the second quarter of 2000, before one-time items, were $.90 per share. Hello? Hello? Is anybody home?When you spend all of your time with those who love e-business and understand its potential, as I do, it’s easy to conclude that people are really starting to figure this stuff out. H.B. Fuller Announces Regular Quarterly DividendST. PAUL, Minn.--July 2, 2001--H.B. Fuller Company announced that the board of directors voted to approve the regular quarterly dividend of $0.215 per share of common stock and $0.0833 per share on all preferred stock. The dividend is payable August 10, 2001 to shareholders of record July 20, 2001. WD-40 Company Reports Third Quarter SalesSAN DIEGO--July 2, 2001--WD-40 Company Monday reported net sales for the third quarter ended May 31, 2001 of $42.7 million compared to sales of $38.3 million in the same period last year, an increase of 11%. METTLER TOLEDO Announces Appointment of Philip H. Geier, Jr. to Its Board of DirectorsGREIFENSEE, Switzerland & COLUMBUS, Ohio--July 2, 2001--Mettler-Toledo International Inc. announced today that Philip H. Geier, Jr. has been appointed to its Board of Directors. Akzo Nobel Transfers Organon Teknika's Diagnostics Business to bioMerieuxARNHEM, the Netherlands--July 3, 2001--Akzo Nobel, the international pharmaceuticals, coatings and chemicals group, has transferred Organon Teknika's in vitro diagnostics business to bioMerieux. In certain countries, however, the transfer will only come into force as soon as merger-control clearance has been obtained. bioMerieux will pay Akzo Nobel EUR 311 million for the diagnostics business on a cash and debt-free basis. As per July 1, the diagnostics activities will be consolidated into bioMerieux. webMethods provides support for Chem eStandardsFAIRFAX, Virginia (July 3, 2001) – webMethods (webmethods.com) a provider of integration software, has provided full support for the Chem eStandards through its integration platform. The webMethods platform is designed to meet the challenges of enterprise and supply chain integration within the chemical industry. Fitch Affirms UOP LLC's Commercial Paper RatingCHICAGO--July 3, 2001--Fitch has affirmed its 'F2' rating of UOP LLC's (UOP) commercial paper program. UOP continues to generate positive free cash flows through a cyclical low, supported by strong market positions in the license of oil refining and petrochemical process technology. The Rating Outlook is Stable. Airgas Announces First Quarter Earnings Release ScheduleRADNOR, Pa. --July 3, 2001--Airgas, Inc. (NYSE:ARG) will release its first quarter earnings at approximately 4:30 p.m. EDT on Tuesday, July 24, 2001 and will host a teleconference at 8:30 a.m. EDT on Wednesday, July 25, 2001. The presentation materials will be available on the Slide Presentations page of the Investor Info section of the corporate website, www.airgas.com, by 5 p.m. on July 24. A webcast of the teleconference will be available live and on demand through August 31 on the Conference Calls and Webcasts section of the website.
|
|