Minerals Tech Comes Up Light on Revenues
Oct 31st 2013 11:08PM
Updated Oct 31st 2013 11:10PM
Speciality mineral specialist Minerals Technologies reported third-quarter results today after the markets closed, showing that it posted net revenues of $254.2 million, up almost 3% from the same period in the previous year but light of the $260.0 million Capital IQ consensus estimate.
While attributable net income came in at $21.9 million, or $0.63 per share, up almost 18% from $18.6 million, or $0.54 per share, in the same period in 2012, it was $0.02 per share better than the Capital IQ estimates of $0.61 per share.
Minerals Technologies says it is seeing contributions from new satellite precipitated calcium carbonate plants, sales growth in ground calcium carbonate and metallurgical wire, higher productivity, expense control, and pricing improvements.
The mineral specialist didn't provide guidance for the coming quarter, but analysts anticipate Minerals Technologies to post earnings of $0.57 per share in the fourth quarter on revenues of $253.3 million. Shares closed up a nickel today at $56.63.
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