Koppers Q2 Profit Decreases - Quick Facts

(RTTNews) - Koppers Holdings Inc. (KOP) reported that its second quarter net income attributable to company decreased to $14.4 million or $0.69 per share, from $20.4 million or $0.98 per share, last year. Earnings per share from continuing operations was $0.70, compared to $0.99, prior year. Adjusted net income for the quarter was $14.7 million or $0.70 per share.

The company said the decreases in income was due to lower profitability for Carbon Materials and Chemicals due mainly to lower profitability from European operations driven by weak economic conditions combined with lower sales volumes and prices for phthalic anhydride in North America mainly as a result of increased levels of lower priced European imports.

On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $0.67 for the quarter. Analytsts' estimates typically exclude special items.

Net sales decreased to $370.9 million, from $411.3 million last year. Analysts expected revenue of $382.67 million for the quarter.