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W.R. Grace's CEO Discusses Q2 2012 Results - Earnings Call Transcript

Stocks in this article: GRA

As you know, some of our comments today will be forward-looking and are made under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected or implied due to a variety of factors. Please see our recent SEC filings for more details on the risks that could impact Grace’s future operating results and financial conditions.

We will also discuss certain non-GAAP financial measures, which are described in more detail in this morning’s release and on our Web site. Reconciliations to the most directly comparable GAAP financial measures and other associated disclosures are contained in our earnings release and on our Web site.

Our comments on forward-looking statements and non-GAAP financial measures apply both to the prepared remarks and to the Q&A. We want to remind everyone that this webcast contains time-sensitive information that is accurate only as of today. Any redistribution, retransmission or reproduction of this call without company consent is prohibited.

With that, I’ll turn the call over to Fred.

Fred Festa

Good. Thanks Mark, and hello to everyone on the call. Let me start with our – our second quarter results were strong and I’m pleased on how we performed. I’d like to highlight three components of our results. First, we had solid growth in our businesses with base pricing and sales volumes growing more than 7%.

Second, I’m very pleased with our results in the emerging regions. Sales in emerging regions grew more than 13% and now are over 36% of our total sales. More than one-third of our company is growing at double-digit rates due to increased customer adoption and market penetration.

To me, this reinforces the fact that we are properly positioned with the right products, the right customers, and the right regions to grow at the rates necessary to meet our 2014 adjusted EBITDA goal of $850 million.

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