Valhi saw Chemicals Segment＇s net sales growing on higher TiO2 price
www.cnchemicals.com Time：2013-05-14 Sources of information：www.cnchemicals.com
Valhi, Inc. reported net income attributable to Valhi stockholders of $88.9 million, or $.78 per diluted share, in the first quarter of 2012 compared to $38.0 million, or $.33 per diluted share, in the first quarter of 2011. The Company reported improved net income attributable to Valhi stockholders primarily due to stronger operating results in the Chemicals Segment.
The Chemicals Segment''s net sales of $561.3 million in the first quarter of 2012 were $140.9 million, or 34% higher than in the first quarter of 2011 primarily due to higher average TiO2 selling prices and higher sales volumes, partially offset by the negative impact of fluctuations in currency exchange rates which decreased net sales by approximately $9 million. The Chemicals Segment''s average TiO2 selling prices were 34% higher in the first quarter of 2012 as compared to the first quarter of 2011, and average selling prices at the end of the first quarter of 2012 were comparable to the end of 2011. TiO2 sales volumes for the first quarter of 2012 increased 5% as compared to the first quarter of 2011 due to increased customer demand, primarily in the North American and export markets. The Chemicals Segment''s sales volumes in the first quarter of 2012 set a new record for a first quarter.
The Chemicals Segment''s operating income for the first quarter of 2012 was $211.3 million as compared with operating income of $103.5 million in the first quarter of 2011. Operating income in the first quarter of 2012 increased primarily due to higher TiO2 selling prices, higher sales volumes and higher production volumes. These increases were partially offset by higher raw material costs and the unfavorable effects of fluctuations in currency exchange rates which decreased operating income by approximately $3 million. The Chemicals Segment''s TiO2 production volumes were 5% higher in the first quarter of 2012 as compared to the first quarter of 2011, with operating rates at near full practical capacity throughout the first quarter of 2012. The Chemicals Segment''s production volumes in the first quarter of 2012 set a new record for a first quarter.
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