Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

BUSINESS BRIEFS [Derived Headline]

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

BUSINESS BRIEFS [Derived Headline]

Article excerpt

Koppers has first-quarter profit

Koppers Holdings swung to a profit in the first quarter on higher demand for its wood preservatives in North America and savings generated by ongoing restructuring of its carbon chemicals business. Net income was $4.4 million, or 20 cents per share, compared with a net loss of $1.3 million, or 6 cents per share in the first quarter last year. Adjusted net income was $14.8 million, or 68 cents per share, beating Wall Street analysts' average estimate of 36 cents per share. Pre-tax adjustments totaling $14.2 million included debt refinancing and restructuring costs. Sales of $346.6 million were flat compared with a year ago but also beat analysts' average estimate of $327 million. The Downtown-based chemicals company said it expects full-year sales to remain flat at approximately $1. …

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