NEW YORK (TheStreet) -- Platform Specialty Products (PAH) shares are down 5.93% to $25.86 in early market trading on Tuesday after the chemical products manufacturer reported a first quarter net loss before the opening bell today.
The West Palm Beach-based company reported a first quarter net loss of $26.7 million, or 21 cents per diluted share of an adjusted basis, topping analysts' expectations of 17 cents per share by four cents.
The company also reported first quarter revenue of $534.80 million, falling short of analysts' $566.60 million expectations for the period.
"We are extremely pleased with our financial performance this quarter, especially in the context of a challenging agrochemical industry landscape and currency headwinds," said CFO Frank J. Monteiro. "The underlying health of our business is evident from our double-digit constant currency growth. Our strong operating performance is attributable to robust sales of our high margin products in the agrochemical business and healthy demand for products within our Electronic Solutions end market."
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