Ecolab Reports Third Quarter EPS Increase To Record US$0.46
Dated: 31 October 2007
Ecolab's consolidated sales increased 11% to a record US$1.4 billion in the third quarter of 2007; measured in fixed currencies, sales rose 7%.
Net income increased 3% to a record US $114 million, with record diluted earnings per share up 7% to $0.46.
Sales of Ecolab's international operations, when measured at fixed currency rates, rose 6% to US$651 million in the third quarter led by double-digit sales gains in Latin America and improved growth in Asia Pacific.
Fixed currency operating income rose 9% to US$76 million. When measured at public currency rates, international sales increased 13% and operating income rose 16%.
Currency translation had a favorable impact on net income growth of approximately US$3 million for the third quarter of 2007.
Ecolab expects sales for both domestic and international operations (in fixed currencies) to increase in the fourth quarter 2007 over the fourth quarter 2006.
Gross margins are expected to be 50%-51%. Selling, general and administrative expenses as a ratio to sales are expected in the 39% range. Interest expense is expected to be about US$15 million.
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