Cytec Industries Inc. (CYT) announced net earnings attributable to Cytec for the second quarter of 2014 of $73.6 million or $2.00 per diluted share. Net sales from continuing operations were $527 million. Earnings from continuing operations were $62.5 million or $1.70 per diluted share.
Cytec Industries Inc. (CYT) announced net earnings attributable to Cytec for the second quarter of 2014 of $73.6 million or $2.00 per diluted share. #
Earnings from discontinued operations were $11.1 million or $0.30 per diluted share. Included in the quarter for continuing operations is one special item of $0.2 million, or $0.01 per diluted share, which is outlined further in this release. Excluding this special item, earnings from continuing operations were $62.7 million or $1.71 per diluted share.
Cytec Industries Inc. (CYT) announced net earnings attributable to Cytec for the second quarter of 2014 of $73.6 million or $2.00 per diluted share. #
Net earnings attributable to Cytec for the second quarter of 2013 were $34.6 million or $0.83 per diluted share. Net sales from continuing operations were $514 million. Earnings from continuing operations for the second quarter of 2013 were $62.6 million or $1.51 per diluted share. Loss from discontinued operations was $28 million or $0.68 per diluted share. There were a number of special items included in the quarter which in aggregate had no impact on net earnings from continuing operations.
Cytec Industries Inc. (CYT) announced net earnings attributable to Cytec for the second quarter of 2014 of $73.6 million or $2.00 per diluted share. #
Shane Fleming, Chairman, President and Chief Executive Officer commented, "I am extremely pleased with the results in the second quarter. The Industrial Materials business delivered another strong quarter, with sales up 19% after excluding sales from the divested distribution product line, related to strong demand in high performance automotive and tooling markets. Aerospace Materials also delivered steady sales growth related to build rate increases in the large commercial transport sector.
Cytec Industries Inc. (CYT) announced net earnings attributable to Cytec for the second quarter of 2014 of $73.6 million or $2.00 per diluted share. #
"In Process Separation delivered excellent earnings in the quarter due to strong sales to the copper and phosphine markets offsetting soft demand in alumina. Additive Technologies remains steady despite tough economic conditions in its key markets. Demand trends in our key growth markets look positive and I am confident in our ability to deliver our increased earnings per share projections for the year."
Cytec Industries Inc. (CYT) announced net earnings attributable to Cytec for the second quarter of 2014 of $73.6 million or $2.00 per diluted share. #
Cytec Industries Inc. (CYT) announced net earnings attributable to Cytec for the second quarter of 2014 of $73.6 million or $2.00 per diluted share. #
Cytec Industries
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