NEW YORK—Chemical maker Rockwood Holdings Inc. said Wednesday that profits jumped 87.4 percent as sales increased for lithium, surface treatment and clay-based additives.
The Princeton, N.J., company reported net income of $75.9 million, or 95 cents per share, for the three months ended Sept. 30. That compares with $40.5 million, or 52 cents per share, for the same part of 2010. Revenue rose 17.4 percent to $940.9 million.
Excluding special charges, Rockwood said its adjusted income was $1.06 per share for the quarter.
Analysts, who typically exclude special charges and gains, had expected earnings of $1.06 per share on revenue of $966.2 million, according to FactSet.
Rockwood said that sales rose 17.4 percent for specialty chemicals, 6.9 percent for performance additives, and 31.1 percent for titanium dioxide as it increased prices. Sales of advanced ceramics increased 11.6 percent on higher sales volumes in cutting tool and mechanical applications.
Shares fell by $1, or 2.3 percent, to $42.45 in premarket trading.
