Calgon Carbon Corp. (CCC), a provider of water-purification systems that use activated carbon and ultraviolet light, reported first-quarter results that beat analysts’ estimates.
Sales slipped to $135 million compared with $137 million a year earlier while earnings of 18 cents a share on a profit of $9.8 million topped seven analysts’ median estimate of 14.5 cents a share, Pittsburgh-based Calgon said today in a statement.
The company, whose shares have risen 21 percent this year, expects margins to increase after completing the second phase of its cost-reduction plan and price increases take effect, Chief Executive Officer Randy Dearth said in the statement.
To contact the reporter on this story: Andrew Herndon in San Francisco at firstname.lastname@example.org
To contact the editor responsible for this story: Reed Landberg at email@example.com