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Rohm and Haas Updates Sales Guidance |
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Written by Philip Buonpastore
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Thursday, 29 November 2007 |
PHILADELPHIA – Rohm and Haas today updated its expected 2007 guidance and outlook for 2008.
The
company expects 2007 sales of approximately $8.8 billion, with growth
in the fourth quarter of approximately 9 to 10% over the prior-year
period.
Earnings will be adversely impacted by the price
of raw materials, which increased $60 million over the same period in
2006. The company has increased prices to cover these added raw
material costs, and expects to have new pricing in place to cover
further cost escalations by the beginning of first quarter 2008.
For
the full-year 2008, the company forecasts a sales increase of
approximately 14%. “Our 2008 outlook is positive,” notes Raj L. Gupta,
president and CEO.
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