AMCOL International Q2 Profit Down

(RTTNews) - AMCOL International Corp. (ACO) Friday reported a decrease in second-quarter net income attributable to shareholders to $16.5 million or $0.51 per share from $21.6 million or $0.67 per share for the same quarter last year.

Excluding some items, mainly expenses associated with restructuring the company's construction technologies segment, earnings per share were $0.57. On average, two analysts polled by Thomson Reuters expected earnings per share of $0.57 for the quarter. Analysts' estimates typically exclude one-time items.

Net sales increased to $262.8 million from last year's $257.4 million. Analysts estimated the firm to generate revenues of $260.41 million. AMCOL President and CEO Ryan McKendrick said, ''From an operating perspective, while several product lines faced challenges in the quarter, others exhibited strong performance."

McKendrick estimates that lower drilling fluid and chromite product sales accounted for a $0.09 per share decrease in earnings per share compared to the prior year's quarter.