You must be registered to access the full content of this site. To register, click here.
Part Search
Rohm and Haas Reports Q1 Results
Written by Philip Buonpastore
Tuesday, 22 April 2008
PHILADELPHIA, PA - The Rohm and Haas Company has reported first quarter 2008 sales of $2.5 billion, a 16% increase over the same period in 2007.
Company growth of 6% was driven by Electronic Technologies, and the growth of the chemical businesses in rapidly developing economies. Currency (4%), acquisitions (3%) and selling price (3%) also contributed to the sales increase.
However, the company reported net income for the first quarter fell 10.4% to $172 million, as compared to $192 million for the same quarter last year.
"Demand for products in our Electronic Technologies segment… and robust growth for the chemical businesses in Rapidly Developing Economies helped to offset the impact of rising raw material costs and weaker U.S. markets," said Raj L. Gupta, president and CEO of Rohm and Haas.
Gross profit for the first quarter rose 8% year over year to $660 million, due to higher selling prices, increased volumes and favorable impact of currencies, but were partially offset by higher raw material, energy and freight costs.
First quarter North America sales rose 10% year over year to $1.20 billion, while Europe, Middle East and Africa region sales also increased 10% to $616 million. Asia-Pacific sales jumped 39% to $585 million. Latin America sales jumped 29% to $108 million for the quarter. Sales in rapidly developing economies were up 42% for the quarter, representing 25% of total company sales.
“Our solid start to the year demonstrates that our strategy to focus the company's portfolio on higher growth areas, and expand in Rapidly Developing Economies, is gaining traction,” said Gupta.
First quarter sales for the Electronic Materials Group jumped 36% from a year ago to $525 million, helped by acquisitions in Display Technologies as well as solid organic growth. The Electronic Technologies segment, which comprises of Semiconductor Technologies, Circuit Board Technologies and Packaging and Finishing Technologies units, totaled $442 million in the first quarter, up 16% from the first quarter of last year, a result of strong growth in Asia for all business units.
Rohm and Haas has continued its ongoing acquisition of companies, recently completing the purchase of FINNDISP, the polymer dispersions division of OY Forcit AB, for approximately $85 million, as well as acquiring a controlling interest in South Korea-based Gracel Display, a manufacturer of Organic LED materials, for about $40 million.
Analysts currently expect the company to earn $9.75 billion for the full year 2008.
Need PCB prototypes fast?
Sunstone Circuits takes the pain out of prototyping! We are dedicated to making the online ordering of PCB prototypes simple, fast, and easy from quote to delivery. Quick access to our 24/7/365 customer service team and easy online order tracking takes the pain out of sourcing prototypes online.
Put us to the test - order Sunstone Circuits today!
PCB systems design teams face challenges with IP management and collaboration across multiple groups. This free Webinar highlights best practices that optimize these efforts across the design flow. Learn more!
Advanced Interconnections Corporation introduces Mezza-pede, SMT connectorsdesigned for 1 mm-pitch micro board-to-board and flex cable-to-board applications. With a low profile, the screw-machined system is well suited for numerous high reliability applications, such as providing power to tunable lasers. The pin and lead frame design is fully surface mountable, and Mezza-pede has a mated height of 4 mm. Features include screw-machined terminals with multi-finger contacts with a per contact current rating of greater than 1 Amp at 80° C. Mezza-pede comes in standard dual row 8- and 14- position models. Other pin counts and optional enhancements are offered. www.advanced.com
News 
