CLEVELAND, July 25, 2011 /PRNewswire/ -- OM Group, Inc. (NYSE: OMG) today announced preliminary financial results for the second quarter ended June 30, 2011. The company anticipates the previously announced acquisition of Vacuumschmelze GmbH & Co. KG, to close in August, subject to satisfaction of customary closing conditions, and is providing preliminary financial results in connection with the closing and financing of the acquisition.
OMG expects net sales in the second quarter to be between $328.0 million and $332.0 million; operating profit between $26.0 million and $30.0 million; depreciation and amortization between $13.0 million and $14.0 million; net income attributable to OM Group, Inc. common shareholders between $0.78 and $0.82 per diluted share; and cash balance between $451.0 million and $453.0 million. Excluding a discrete tax benefit of $2.0 million, the effective income tax rate for the second quarter of 2011 is expected to be approximately 9% to 10%.
OMG also announced that it plans to release its 2011 second quarter final results before the market opens on August 4, 2011. The press release will be available on the Investor Relations section of the OMG website at http://investor.omgi.com.
The company plans to discuss the final results on a conference call at 10:00 a.m. (ET) on August 4, 2011. The conference call will be available via webcast at http://investor.omgi.com. An archived version of the webcast will be available for those unable to access the live event. Alternatively, investors and analysts inside the U.S. or Canada may access the conference call by phone at 800-344-0734 during the event or at 800-642-1687 to listen to the replay. Callers outside the U.S. or Canada may dial 973-935-2082 during the event or 706-645-9291 to listen to the replay. The conference code is 85110971.A copy of the management's presentation materials will be available on the Investor Relations section of the company's Web site at the time of the call. The company recommends visiting its Web site at least 15 minutes prior to the webcast to download and install any necessary software.