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Olin Management Discusses Q2 2012 Results - Earnings Call Transcript

Olin (OLN)

Q2 2012 Earnings Call

July 24, 2012 10:00 am ET

Executives

Joseph D. Rupp - Chairman, Chief Executive Officer, President and Chairman of Executive Committee

John E. Fischer - Chief Financial Officer and Senior Vice President

Analysts

Maggie Cheung - Wells Fargo Securities, LLC, Research Division

Edward H. Yang - Oppenheimer & Co. Inc., Research Division

Christopher W. Butler - Sidoti & Company, LLC

Herbert Hardt - Monness, Crespi, Hardt & Co., Inc., Research Division

Bobby Geornas - Susquehanna Financial Group, LLLP, Research Division

Aleksey V. Yefremov - BofA Merrill Lynch, Research Division

Dmitry Silversteyn - Longbow Research LLC

Richard O'Reilly

Presentation

Operator

Good morning, and welcome to Olin's Second Quarter 2012 Earnings Conference Call. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Joseph Rupp, Chairman, President and CEO. Please go ahead.

Joseph D. Rupp

Good morning, and thanks for joining us today. With me this morning are John Fischer, our Senior Vice President, Chief Financial Officer; John McIntosh, our Senior Vice President of Operations; and Larry Kromidas, our Assistant Treasurer and Director of Investor Relations.

Last night, we announced that net income in the second quarter of 2012 was $47.6 million or $0.59 per diluted share, which compares to $42.1 million or $0.52 per diluted share in the second quarter of 2011. Second quarter 2012 net income included a $1.8 million pretax restructuring charge, primarily associated with the ongoing Winchester centerfire relocation project, and second quarter 2011 net income included a $2.4 million pretax restructuring charge associated with the Winchester centerfire relocation project and the Chlor Alkali mercury cell technology conversion projects.

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