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Calgon Carbon Announces Full Year And Fourth Quarter Results

Stocks in this article: CCC

Equipment sales increased by 10.3% versus the fourth quarter of 2010. The growth in this segment was due solely to the company’s UV businesses, especially Hyde Marine, and was partially offset by weak demand for carbon adsorption equipment.

In the Consumer segment, sales of activated carbon cloth offset the effect of the final disposition of the company’s former PreZerve product line.

Net sales less the cost of products sold as a percentage of net sales for the fourth quarter of 2011 was 30.9%, versus 33.0% for the fourth quarter of 2010. Sales of low-margin outsourced products, particularly at CCJ, as well as expenses related to equipment failures during the start-up of the company’s new reactivation facilities in Europe and China, had an adverse impact on margins in the fourth quarter of 2011.

Selling, administrative and research expenses for the fourth quarter of 2011 were $5.4 million higher than for the comparable period of 2010. The increase was primarily due to $2.2 million in severance expense related to management changes in Europe and Asia; testing costs associated with advanced products for mercury removal; and staff additions at Hyde Marine.

Calgon Carbon’s board of directors did not declare a quarterly dividend.

Commenting on the results, John Stanik, Calgon Carbon’s chairman, president and chief executive officer, said, “After three quarters of solid performance, the fourth quarter proved to be quite challenging. Fortunately, most of the problems were temporary and are being resolved.”

“For the long term, our outlook and our strategy have not changed, and I am confident that our new organization will better allow us to capitalize on our growth opportunities. We will continue to look to ballast water treatment, reactivation services, disinfection by-products, and mercury removal for sustained growth throughout the decade.”

For more information about Calgon Carbon’s leading activated carbon and ultraviolet technology solutions for municipalities and industries, visit www.calgoncarbon.com.

Calgon Carbon Corporation, headquartered in Pittsburgh, Pennsylvania, is a global leader in services and solutions for making water and air safer and cleaner.

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