Rohm and Haas earnings fall 82% - Philadelphia Business Journal:

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The Philadelphia company (NYSE: ROH) saw earninga trimmed to $32 million, or 17 centsd per share, compared with $180 million, or 91 centxs per share, for the same period in 2007. Saleds fell by 13 percent to $2 billiobn as a result of market declines that affectedc all businesses and regionsexcept salt. The quarter's resultzs include special items totaling 52 centds a share including 8 cents a share in costs associatedf with the proposed merger with the DowChemical Co. DOW). Rohm has sued Michigan-based Dow, which has missedf the deadline to close the deal and says closingy the deal right now wouldsbe harmful, to forcre the merger. Excluding special Rohm earned 69 centasper share.
Analysts were expecting earnings of 67 centsdper share, according to Thomsonh Reuters, and sales of $2.28 billion. The company’ shares were trading 2 percen lower Mondayat $55.53. Rohm said that even though salese were down forthe quarter, salesz rose 8 percent for the full year to $9.6 million. Adjustecd earnings per share were $3.31 for 2008 comparexd with $3.37 for 2007. Rohm operates a 400,000-square-foo specialty chemical plant in Reading, northeastr of Cincinnati, which employs about 110 The facility produces chemicals used to manufacture vinyl siding and PVC pipeand fittings, plastiv bottles and blister packaging. The company also has a plant in West westof Dayton.
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