Chemtura losses continue in Q3

Middlebury, Connecticut -- Chemtura Corp. has reported a loss from continuing operations for the third quarter of 2005 of $120.3 million and pro forma adjusted earnings from continuing operations of $40.7 million or $0.17 per share.

Third quarter 2005 net sales of $918.4 million were $344.4 million above the third quarter 2004 net sales of $574.0 million. The increase was primarily due to $413.8 million in additional sales resulting from the merger of Crompton and Great Lakes. On a pro forma basis, after giving effect to the merger, third quarter 2005 net sales were $47.4 million or 5 percent less than pro forma third quarter 2004 net sales of $965.9 million. The decrease was a result of 12 percent lower volume and a 4 percent decrease from the deconsolidation of the Company's Polymer Processing Equipment business unit (Davis-Standard), partially offset by an 11 percent increase in selling prices and a 1 percent increase from foreign currency translation.

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Press releasefrom Chemtura

Chemtura posts wider quarterly loss on charges Reuters (US)