Ecolab profits down
ST. PAUL, MN — Ecolab Inc.''s first-quarter earnings fell 47 percent on charges related to its Nalco Holding Company acquisition last year, according to a press release.
For the current quarter, the company forecast per-share earnings of 69 cents to 72 cents, below recent estimates of analysts polled by Thomson Reuters, the release stated.
According to the release, in December, Ecolab completed its $5.6 billion purchase of Nalco, which makes chemicals used in water treatment and pollution control.
Ecolab revealed a restructuring plan in January to streamline its global business and improve on the cost savings from Nalco, the release noted.
Ecolab reported a profit of $49.7 million, or 17 cents a share, down from $93.6 million, or 40 cents a share, a year earlier; excluding acquisition and restructuring related charges and other items, earnings were up at 50 cents from 45 cents, the release added.
Click here to read the complete release.