* Q1 EPS $0.22 vs $0.90 last year
* Q1 net sales down 25 pct
April 23 (Reuters) - Specialty mineral company Minerals Technologies Inc reported a 76 percent drop in quarterly profit, hurt by weak sales across all its segments as demand dropped significantly.
Worldwide sales at the company's specialty minerals segment fell 21 percent during the first quarter. Precipitated calcium carbonate sales were down 20 percent, while refractories segment sales fell 33 percent.
The company posted net income attributable to shareholders of $4.2 million, or 22 cents a share, compared with $17.2 million, or 90 cents a share, last year.
Excluding items, Minerals Technologies earned 25 cents a share.
Net sales fell 25 percent to $208.3 million.
Analysts on average were looking for earnings of 20 cents a share, before items, on revenue of $219.6 million, according to Reuters Estimates.
Shares of the company closed at $37.08 Thursday on the New York Stock Exchange.
(Reporting by Adveith Nair in Bangalore; Editing by Anne Pallivathuckal) Keywords: MINERALTECHNOLOGIES/ (adveith.nair@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 4135 5800; Reuters Messaging: adveith.nair.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Q1 net sales down 25 pct
April 23 (Reuters) - Specialty mineral company Minerals Technologies Inc reported a 76 percent drop in quarterly profit, hurt by weak sales across all its segments as demand dropped significantly.
Worldwide sales at the company's specialty minerals segment fell 21 percent during the first quarter. Precipitated calcium carbonate sales were down 20 percent, while refractories segment sales fell 33 percent.
The company posted net income attributable to shareholders of $4.2 million, or 22 cents a share, compared with $17.2 million, or 90 cents a share, last year.
Excluding items, Minerals Technologies earned 25 cents a share.
Net sales fell 25 percent to $208.3 million.
Analysts on average were looking for earnings of 20 cents a share, before items, on revenue of $219.6 million, according to Reuters Estimates.
Shares of the company closed at $37.08 Thursday on the New York Stock Exchange.
(Reporting by Adveith Nair in Bangalore; Editing by Anne Pallivathuckal) Keywords: MINERALTECHNOLOGIES/ (adveith.nair@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 4135 5800; Reuters Messaging: adveith.nair.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.