Cytec posts threefold jump in first-quarter earnings

Abstract

New Jersey-based Cytec Industries reported net earnings for the first quarter of 2011 of US$83.2 million on net sales of $766 million. In 1Q 2010, net earnings were $24.8 million on net sales of $646.5 million. Excluding special items and earnings from discontinued operations (including Building Block Chemicals), net earnings from continuing operations attributable to Cytec were $39.1 million in 1Q 2011 and $28.9 million a year earlier.