Rockwood Holdings Slips To Loss In Q1

(RTTNews) - Rockwood Holdings, Inc. (ROC) reported a loss for the first quarter, reflecting a loss from discontinued opeations. Sales, however, increased from last year.

The firm's first quarter of 2014 net loss attributable to shareholders was $20.8 million or $0.28 per share versus a profit of $17.8 million or $0.22 per share last year.

The company reported income from continuing operations of $21.7 million or $0.29 per share compared with $6.5 million or $0.08 per share for the same period in the prior year.On an adjusted basis, net income from continuing operations was $32.2 million, or $0.43 per share

On average, 8 analysts polled by Thomson Reuters expected earnings per share of $0.43 for the quarter. Analysts' estimates typically exclude one-time items. Net sales for the quarter rose to $354.5 million from last year's $337.1 million. Analysts estimated revenues of $355.11 million for the quarter. Looking ahead the firm expects high single-digit revenue growth, citing effects from acquisitions, and Surface Treatment's organic growth prospects