This Day On The Street
Continue to site
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

Cytec Industries' CEO Discusses Q2 2011 Results - Earnings Call Transcript

Our team did a great job executing required pricing actions and were able to secure $54 million in price in the segment, more than offsetting the roughly $47 million in raw material cost escalations.

The chart on Slide 5 displays monthly sales revenue for this business. This shows the strong sales performance in the first 2 months of the quarter with increased revenue from price increases more than offsetting reduced demand and the drop-off in June sales as customers reduced inventories.

Coating Resins' operating earnings for the quarter were $28.2 million, a slight improvement over the very strong prior year quarter. I'm particularly pleased with our disciplined pricing actions in the first half of this year as we accumulatively achieved $98 million in price increases in this segment over the past 6-month period.

Moving to Additive Technologies. Slide 6 shows sales in the segment of $73 million, an increase of over 10% versus the second quarter 2010. Once again, increased selling price was the primary driver of growth, achieving 8% versus the prior year period with an additional 5% benefit from exchange rates.

Selling volumes are down by 3% although this is primarily due to capacity limitations constraining product availability in Polymer Additives rather than reduced demand. That said, we did see a slower pace in the North American market but our results were due much more to volume shortages and the economic slowdown. Also in Specialty Additives, we continued to experience a sold-out situation with some products. The order book in our additives product line remains strong, and we are actively working on capacity expansions to meet increasing market demand.

Read the rest of this transcript for free on

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.99 -0.02%
FB $99.54 -0.21%
GOOG $678.11 -0.68%
TSLA $148.25 0.18%
YHOO $26.82 -0.85%


Chart of I:DJI
DOW 16,014.38 -12.67 -0.08%
S&P 500 1,852.21 -1.23 -0.07%
NASDAQ 4,268.7630 -14.99 -0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs