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 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

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 $93.75 -1.10%
FB $117.53 0.69%
GOOG $693.00 0.29%
TSLA $240.75 -2.80%
YHOO $36.61 0.06%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs