Olin Q3 Profit Down

(RTTNews) - Olin Corp. (OLN) Thursday reported third-quarter net income of $26.1 million or $0.33 per share, down from $69.7 million or $0.86 per share last year.

Sales for the third quarter dropped to $593.6 million from $670.7 million last year.

Analysts polled by Thomson Reuters expected the company to earn $0.42 per share on revenues of $617.23 million for the quarter. Analysts' estimates typically exclude one-time items.

Looking forward to the fourth quarter, the company expects net income of $0.20 to $0.25 per share. Analysts currently expect the company to earn $0.33 per share for the quarter.