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At 8% decline, Rohm 2Q earnings miss estimates
ASSOCIATED PRESS
Jul 24, 2008
Philadelphia-based Rohm & Haas Co., a specialty chemicals maker that earlier this month agreed to be purchased by Dow Chemical Co., today reported an 8 percent drop in second-quarter profit, missing Wall Street's expectations.For the period ended June 30, the company reported earnings of $147 million, or 75 cents per share, compared with $160 million, or 74 cents per share, in the year-ago period.
Excluding a gain from the sale of a stake in UP Chemical Co. and other items, profit was 82 cents share.
Revenue jumped to $2.57 billion from $2.19 billion.
Analysts polled by Thomson Financial expected earnings of 85 cents per share on revenue of $2.51 billion. Analyst estimates typically exclude onetime items.
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