Koppers 1Q profit up on carbon materials and chemicals sales

PITTSBURGH—Koppers Holdings Inc. on Thursday reported first-quarter profit jumped 26 percent on higher sales in at the company's carbon materials and chemicals segment.

For the quarter ended March 31, Koppers earned $13.2 million, or 63 cents per share, compared with $10.5 million, or 50 cents per share, for the same quarter in 2007.

The results beat Wall Street predictions. Analysts polled by Thomson Financial expected a profit of 54 cents per share.

Revenue rose 13 percent to $347.5 million from $308.6 million in the year-ago period.

Koppers Holdings makes carbon compounds, which are used to make aluminum, steel and chemicals, and treated wood, which is used to make railroad ties and utility poles.

Sales at the carbon materials and chemicals segment rose 28 percent, mainly as a result of increased pricing for most product lines and higher carbon materials volumes due to strong product demand.

Meanwhile, railroad and utility products sales fell 10 percent on lower volumes of railroad crossties and utility poles, the company said.

Koppers shares fell $1.23, or 2.5 percent, to close at $48.86.