Cytec Industries Inc. announced net earnings attributable to Cytec for the fourth quarter of 2013 of $59.4 million or $1.62 per diluted share. Net sales from continuing operations were $480 million. Earnings from continuing operations were $56.0 million or $1.53 per diluted share.
Cytec Industries Inc. announced net earnings attributable to Cytec for the fourth quarter of 2013 of $59.4 million or $1.62 per diluted share.#
Earnings from discontinued operations were $3.4 million or $0.09 per diluted share. Included in the quarter for continuing operations are several special items that total $14.1 million of net income after-tax, or $0.38 per diluted share, which are outlined further in this release. Excluding these special items, earnings from continuing operations were $41.9 million or $1.15 per diluted share.
Cytec Industries Inc. announced net earnings attributable to Cytec for the fourth quarter of 2013 of $59.4 million or $1.62 per diluted share.#
Net earnings attributable to Cytec for the fourth quarter of 2012 were $26.8 million or $0.58 per diluted share. Net sales from continuing operations were $471 million. Earnings from continuing operations for the fourth quarter of 2012 were $4.0 million or $0.09 per diluted share.
Cytec Industries Inc. announced net earnings attributable to Cytec for the fourth quarter of 2013 of $59.4 million or $1.62 per diluted share.#
Earnings from discontinued operations were $22.8 million or $0.49 per diluted share, net of non-controlling interests. Included in the quarter for continuing operations were several special items that totaled $39.4 million of net charges after-tax or $0.85 per diluted share. Excluding the special items, earnings from continuing operations were $43.4 million or $0.94 per diluted share.
Cytec Industries Inc. announced net earnings attributable to Cytec for the fourth quarter of 2013 of $59.4 million or $1.62 per diluted share.#
Shane Fleming, Chairman, President and Chief Executive Officer commented, "I am pleased with the results in the fourth quarter which were in line with our business forecasts. Each business segment delivered sales growth versus the prior year period excluding 2012 sales from the divested distribution product line.
Cytec Industries Inc. announced net earnings attributable to Cytec for the fourth quarter of 2013 of $59.4 million or $1.62 per diluted share.#
The Specialty Chemical segments provided solid earnings performance and Industrial Materials finished the year better than anticipated. Aerospace Materials earnings were negatively impacted by the planned carbon fiber shutdown that we communicated last quarter. On an as-adjusted basis, we delivered strong performance this year, with 39% EPS growth versus the prior year driven by volume growth and improved product mix combined with our lower share count."
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