Rohm and Haas reports strong Q3
Oct 23, 2006
Rohm and Haas Company (NYSE: ROH) reported third quarter 2006 sales of$2,065 million, a 7 percent increase over the same period in 2005, reflecting broad based growth across all businesses. Electronic Materials posted another record quarter, and Coatings sales were bolstered by solid demand in Architectural and Functional Coatings. The company reported third quarter earnings from continuing operations of$189 million, or$0.86 per share, compared to$163 million, or$0.73 per share, for the third quarter of 2005. This quarter's results include$.03 per share mainly due to the favorable settlement of tax contingencies. The comparative year's results included approximately$7 million after-tax, or$0.03 per share of costs associated with the shutdowns necessitated by the 2005 hurricanes in the Gulf Coast region of the United States.
"This quarter's results again reflect the continued strength in our Electronic Materials franchise, as well as solid demand across most of our chemicals businesses," said Raj Gupta, chairman, president and chief executive officer. "Despite some evidence of slowing in the building and construction market in North America, demand across our key markets still remains strong, and our global reach is enabling us to grow faster in the emerging markets. This quarter's results maintain the momentum of solid earnings growth we have demonstrated over the past several years."