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FMC: recent report

US-based FMC Corporation has reported year 2000 third quarter after-tax income from continuing operations of US$ 1.79 per share on a diluted basis, on sales of $919 million. Comparable 1999 earnings w…

US-based FMC Corporation has reported year 2000 third quarter after-tax income from continuing operations of US$ 1.79 per share on a diluted basis, on sales of $919 million. Comparable 1999 earnings were US$ 1.33 per share before one-time items. According to FMC Chairman and Chief Executive Officer Robert N. Burt: “The strength of our operations resulted in an excellent quarter despite higher energy costs and the impact of the weak euro, which also affected many of our competitors. We continue on track to meet or exceed our 10% EPS growth target for this year, and we“re also making good progress toward our 15% return on investment goal.” Industrial Chemicals sales of US$ 172 million for the third quarter of 2000 were down from last year“s quarter, primarily reflecting the deconsolidation of phosphorus sales as a result of this year“s start-up of the Astaris phosphorus joint venture with Solutia Inc. Earnings for the quarter were US$ 30 million, essentially even with last year, despite higher energy costs and the weak euro. Soda ash profits improved as higher volumes and lower costs offset lower pricing in Asia.

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