WASHINGTON (dpa-AFX) - Calgon Carbon Corp. (CCC) reported that its first-quarter net income increased to $9.8 million or $0.18 per share, from $7.7 million or $0.14 per share last year. Net sales decreased to $135.04 million from $136.61 million last year.
Selling, administrative and research expenses were $20.9 million compared to $23.9 million last year. The decrease was due to lower employee related expenses, due in part to the company's cost reduction initiatives.
On average, seven analysts polled by Thomson Reuters expected the company to report profit of $0.15 per share for the quarter. Analysts' estimates typically exclude special items. Analysts expected revenue of $138.64 million for the quarter.
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