Calgon Carbon Tumbles After Revenue Falls Short of Estimates

Calgon Carbon Corp. (CCC), whose products help purify water and clean the air of pollutants, reported the second-highest sales in company history yet the shares fell the most since February after revenue missed analysts’ estimates.

Second-quarter sales of $145.1 million at Pittsburgh-based Calgon Carbon trailed analysts’ estimates of $147.3 million. The stock slid as much as 6.4 percent and traded 5.4 percent lower at $20.28 at 1:05 p.m. New York time, trimming gains the past year to 11.7 percent.

Income from operations in the quarter ending June was 5.4 percent higher than the year-earlier period, the company said today in a statement. Sales for the activated carbon business rose 4.8 percent as food and drinking water markets improved, as did ballast water-treatment system revenue, while equipment sales slid 17 percent on lower demand for ion exchange and traditional ultraviolet systems, Calgon Carbon said.

To contact the reporter on this story: Randall Hackley in London at rhackley@bloomberg.net

To contact the editor responsible for this story: Randall Hackley at rhackley@bloomberg.net

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