Arch Chemicals reports record 2Q 2004 results
Arch Chemicals' second quarter 2004 sales jumped to $402.8 million compared to $308.5 million a year earlier -- up over 30% from the same period in 2003.
NORWALK, CT, July 27, 2004 (BUSINESS WIRE) -- Arch Chemicals Inc. announced second quarter 2004 sales jumped to $402.8 million compared to $308.5 million in 2003. In water products, sales increased $40 million, or 33%, due to acquisitions (Avecia's pool and spa business of $19.2 million and Aquachlor of $6.6 million) and higher volumes. Personal care and industrial biocides sales of $65.8 million were reported compared to $37.5 million in 2003. Even excluding acquisitions, sales were up 15%.
"What is most satisfying about our record-breaking second quarter earnings is that they were largely driven by our ability to capitalize on long-term, global growth opportunities in our Treatment Products and Microelectronic Materials businesses," said Arch chairman, president and CEO Michael E. Campbell.
"While we did benefit from our acquisition earlier this year of Avecia's pool-and-spa and protection-and-hygiene businesses, we also set new records in growth markets that our biocides business has been pursuing for some time, including marine antifouling paints, building products and antidandruff shampoos. We also continue to gain market share on robust demand for our advanced new wood preservatives. In Microelectronic Materials, sales of new products were up significantly year-over-year, based primarily on growing demand for our Deep UV photoresists and color mosaic materials for liquid crystal displays."
HTH water products reported sales of $162.5 million for 2004 compared to $122.5 million in 2003. Excluding the impact of acquisitions, sales increased approximately 12 percent due principally to higher North American residential swimming pool volumes, which include branded calcium hypochlorite (HTH and J3), branded chlorinated isocyanurates (Pace), pool maintenance products and accessories and non-branded calcium hypochlorite.
Personal care and industrial biocides sales increased $28.3 million, or about 75%, and were still up 17% excluding the impact of acquisitions. Wood protection and industrial coatings reported sales of $95.5 million compared to $72.1 million in 2003. Meanwhile, microelectronic materials reported sales of $40.8 million compared to $37.6 million a year earlier. Performance products sales were down slightly to $38.2 million.