Koppers Holdings Q1 Profit Declines - Quick Facts

(RTTNews) - Koppers Holdings Inc. (KOP) reported first-quarter net income attributable to company of $2.2 million, or $0.11 per share compared to $11.0 million, or $0.53 per share in the first quarter of 2013. The company said the decrease in net income was due to lower profitability for CMC that included pre-tax impairment and plant closure charges of $17.2 million for CMC facilities in Europe and China, and lower sales prices for phthalic anhydride, combined with lower profitability for RUPS due mainly to competitive conditions for obtaining raw material. Adjusted earnings was $6.6 million or $0.32 per share, for the quarter.

On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $0.54 for the quarter. Analysts' estimates typically exclude special items.

Consolidated sales decreased to $331.4 million from $370.4 million, prior year. Analysts expected revenue of $380.87 million for the quarter.