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!

Cytec Industries' CEO Discusses Q4 2011 Results - Earnings Call Transcript

Moving on to the business segment details. Slide 4 highlights results for In Process Separation segment, which delivered sales of $90 million on the fourth quarter, a 10% increase versus the fourth quarter 2010. Selling volumes increased by 3% as a result of continued strong production rates in our primary copper and aluminum-based metal markets. Additionally, the Commercial and Technology teams continue to do a great job commercializing new technologies which have led to both volume growth and improved product mix.

We have also been successful in our penetration of new geographies and in the quarter, secured new business in Latin America and Russia. Selling prices in the quarter were increased by 7% and more than covered cost escalation.

The segment delivered $20.4 million of operating earnings in the quarter, a remarkable 53% increase versus operating earnings of $13.3 million in the prior-year quarter and a record earnings quarter for this segment.

Slide 5 shows a summary of results in Engineered Materials segment, with sales up $239 million, a 16% increase versus the prior-year quarter. Selling volumes were up 11%, driven primarily by increased sales to the large commercial transport sector. New programs driving the growth include the Boeing 787, 747-8 and Airbus 380. The ramp-up in build rates for our legacy aerospace programs such as the Boeing 777, 737 and the Airbus 320 further supported the volume growth. In addition, civil and military rotorcraft programs are maintaining steady growth due to the general recovery in these markets.

Selling prices increased sales by 3% as we continue to make progress offsetting the higher cost of raw materials that began to impact this segment in 2011. Operating earnings of $41.6 million were up significantly over the fourth quarter 2010 as a result of the higher volumes and increased selling prices with some of the pricing being retroactive to previous quarters.

Read the rest of this transcript for free on seekingalpha.com

3 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
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 16,960.57 -123.23 -0.72%
S&P 500 1,978.34 -9.64 -0.48%
NASDAQ 4,449.5640 -22.5440 -0.50%

Brokerage Partners

Rates from Bankrate.com

  • 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