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Chemtura sales slipped 11% in Q4 2011
Feb. 28, 2012
Chemtura AgroSolutions’ net sales decreased $11 million or 11% primarily due to lower sales volume. Sales volumes were impacted by dry conditions in Eastern Europe which reduced winter planting for oil seed rape by 30% and less than-planned improvement in Latin America where we saw a continuing impact from new registrations from providers of generic products. Operating income on a managed basis decreased $3 million primarily due to lower sales volume and unfavorable mix. On a GAAP basis, operating income decreased $4 million as 2011 was impacted by accelerated depreciation of property, plant and equipment.
The full year of 2011 sales were up 7.1% to $376 million comparing with the previous year, and operating profit surged by 42.9% to $30 million.
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Chemtura AgroSolutions’ sales result ($million)
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||||||
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ended Dec. 31st
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Q4 2011
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Q4 2010
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% change
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FY 2011
|
FY 2010
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% change
|
|
Sales
|
86
|
97
|
-11.3
|
376
|
351
|
+7.1
|
|
Operating profit
|
5
|
9
|
+44.4
|
30
|
21
|
+42.9
|
Chemtura expects stronger performance from Chemtura AgroSolutions segments in 2012. The company has extended its product offerings, gained new product registrations and strengthened its distribution channels. The resulting new product introductions in 2012 are expected to drive further recovery by this segment over that achieved in 2011.”
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