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Calgon Carbon Announces Full Year And Fourth Quarter Results

Stocks in this article: CCC

Calgon Carbon Corporation (NYSE: CCC) announced results for the full-year and fourth quarter ended December 31, 2011.

For the year ended December 31, 2011, the company reported net income of $39.2 million, a 12.6% increase over net income for the comparable period in 2010. Earnings per common share on a fully diluted basis were $0.69 for the year ended December 31, 2011, as compared to $0.61 per common share for the year ended December 31, 2010.

Net sales for the year ended December 31, 2011, were $541.5 million, an increase of 12.3% over the comparable period in 2010. The increase from Calgon Carbon Japan’s (CCJ) first quarter 2011 sales was $17.9 million. CCJ was not reported on a consolidated basis until March 31, 2010. For the year, foreign currency translation had a $13.9 million positive impact on sales due to the weaker U.S. dollar.

Net income for the fourth quarter of 2011 was $4.9 million, or $0.09 per common share, on a fully diluted basis, versus $12.5 million, or $0.22 per common share, on a fully diluted basis for the fourth quarter of 2010.

Net sales for the fourth quarter of 2011 were $138.2 million, an increase of 5.1% versus fourth quarter 2010 sales of $131.5 million. Currency translation had a $1.3 million positive impact on sales for the fourth quarter of 2011, all of which were related to CCJ’s sales.

For the fourth quarter of 2011, sales for the Activated Carbon and Service segment were $122.0 million versus $116.9 million for the fourth quarter of 2010, a 4.4% increase. CCJ’s sales for the fourth quarter accounted for $22.4 million, which represents a $3.9 million increase over the comparable period of 2010.

Excluding CCJ’s contribution, sales growth for the fourth quarter of 2011 was attributed to higher prices for activated carbon products and services in the U. S. and Europe. In those two regions, sales increased in the wastewater, food, and environmental air markets versus the fourth quarter of 2010. These increases were, for the most part, offset by a decline in sales to the respirator and potable water markets.

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