Manufacturing Industry
CYTEC UPDATES FOURTH QUARTER EARNINGS PER SHARE ESTIMATE.
Advanced Materials & Composites News, January, 2002
Cytec Industries Inc. (NYSE:CYT) in West Paterson, New Jersey announced a revision to its previous estimate of earnings per share for the fourth quarter of 2001. The revised estimate for earnings per share for the fourth quarter is a range of $0.15 to $0.20. The revision is due primarily to reduced demand in December in the Performance Products segment and reduced demand and further margin pressure in the Building Block Chemicals segment. Previous guidance was for earnings per share to be in a range of $0.25 to $0.30.
Based on the above, Cytec's full-year normalized earnings per share estimate is now a range of $1.70 to $1.75, excluding special items.
Cytec will report fourth quarter results on January 22, 2002 at which time the company also will...
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