This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Minerals Technologies' First Quarter Earnings Per Share Were $0.87, Excluding Special Items; Reported Earnings Were $0.86 Per Share

Stocks in this article: MTX

Minerals Technologies Inc. ( NYSE: MTX) today reported net income of $15.8 million, or $0.86 per share for the first quarter 2011, compared with $15.4 million, or $0.82 per share in the first quarter of 2010. Excluding special items, earnings per share were $0.87 compared with $0.85 per share in the first quarter of 2010.

“We began 2011 with solid financial results that reflect the strong operating track that we have been on,” said Joseph C. Muscari, chairman and chief executive officer. “We continue to focus on profitable organic growth, reducing costs and improving productivity, initiatives that have resulted in moving Minerals Technologies to a higher level of performance.”

First Quarter Year-Over-Year Comparison

The company's first quarter net income of $15.8 million, or $0.86 per share, increased 3 percent from the $15.4 million, or $0.82 per share, recorded in the first quarter of 2010. Earnings per share, excluding special items, were $0.87 compared to $0.85 per share in the prior year, a 2-percent improvement. The increased earnings were primarily attributable to volume growth related to improvements in the company’s end markets, particularly in the steel and automotive industries, and productivity improvements in all businesses.

The company’s first quarter worldwide sales of $262.5 million increased 4 percent over the $253.5 million in the same period in 2010. Foreign exchange had a favorable impact on sales of approximately $1.9 million or less than 1 percentage point of growth. Operating income, excluding special items, was $24.9 million, a 4-percent increase over the $23.9 million recorded in the prior year’s first quarter. As reported, the company recorded income from operations of $24.7 million compared with $23.1 million in the same period in the prior year.

First quarter worldwide sales for the Specialty Minerals segment, which consists of precipitated calcium carbonate (PCC) and Processed Minerals, increased 1 percent to $173.3 million from the $172.1 million recorded in the first quarter of last year. Income from operations of $19.7 million, excluding special items, increased 3 percent from the $19.2 million recorded in the same period in 2010.

1 of 5

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs