Rockwood Holdings Reports Fourth Quarter and Full Rockwood Holdings Reports Fourth Quarter and Full Year 2012 Results
2012 Highlights
? Adjusted EPS from continuing operations - $0.47 versus $0.91 for the
quarter and $3.89 versus $4.02 for the full year
? Adjusted EBITDA - $141 million versus $196 million for the quarter and
$779 million versus $863 million for the full year
Princeton, New Jersey; February 19, 2013 — Rockwood Holdings, Inc. (NYSE:
ROC) today reported net income from continuing operations of $21.2 million, or $0.26
per share for the fourth quarter of 2012, which included other net charges of $16.8
million, as compared to $63.0 million, or $0.79 per share for the same period in the
prior year, which included other net charges of $9.7 million.
Excluding these other net charges, adjusted net income from continuing operations
was $38.0 million, or $0.47 per share, in the fourth quarter of 2012 compared to
$72.7 million, or $0.91 per share, for the same period in the prior year.
For the full year, reported net income from continuing operations was $383.5 million,
or $4.80 per share, which included other net benefits of $72.5 million, as compared to
$291.1 million, or $3.64 per share for the prior year, which included other net charges
of $30.1 million. Reported net income for the full year of 2012 was favorably impacted
by an income tax benefit related to the reversal of a majority of our federal valuation
allowance.
Excluding these items, adjusted net income from continuing operations was $311.0
million, or $3.89 per share in 2012, versus $321.2 million, or $4.02 per share in 2011.
Year on year performance was down on weak results from Titanium Dioxide Pigments,
and to a lesser extent, Performance Additives, which was partially offset by improved
results from Lithium, Surface Treatment and our Advanced Ceramics medical
business.
Seifi Ghasemi, Chairman and Chief Executive Officer, commented, “Our two core
businesses, Lithium and Surface Treatment, as well as Advanced Ceramics, had a
satisfactory performance in the fourth quarter, each with higher Adjusted EBITDA
versus last year. The results for our Performance Additives segment were negatively
impacted by lower oil and natural gas drilling activity in North America. Our TiO2
business did not perform well due to lower prices and higher raw material costs. As a
result of our continued focus on cash, we generated $87 million of free cash in the
fourth quarter and nearly $170 million in the second half of 2012.”
Business Segment Review
Fourth quarter and full-year net sales and Adjusted EBITDA results, as compared with
the same period a year ago, are summarized below:
https://www.rockwoodspecialties.com/rock_english/media/pdf_files/ROC_Q4_12_EarningsRelease_2-19-13.pdf
ROC Chart
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Analyst Estimates
https://www.marketwatch.com/investing/stock/roc/analystestimates