Calgon Carbon Earnings Beat Analysts Estimates on Cost Reduction
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.
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