PHILADELPHIA — Specialty chemical manufacturer Rohm & Haas saw an 82 percent decrease in profits for the fiscal fourth-quarter, according to MarketWatch.
Quarterly profits fell from $180 million in 2007 to $32 million in 2008, the story stated.
Driven by accelerating market declines, quarterly sales fell 13 percent, the story noted.
According to a company statement: "The impact of softer demand, higher raw-material and energy costs, and the negative operating impact of volume shortfalls were partially offset by prior pricing actions."
Adjusted pre-tax earnings for the quarter plummeted 68 percent to $31 million, the story added.
Monday, February 16, 2009
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