Norwalk-based Arch Chemicals Inc. reported better-than-expected profit and narrowed its full-year forecast to the upper end of the biocide maker’s previous range, Reuters reports
Net income for the third quarter was $10.3 million, or 41 cents per share, down from the 17 million, or 68 cents per share, a year before.
Excluding severance to executives, earnings per share of 44 cents beat the 33 cents per share that analysts had expected, according to Thomson Reuters I/B/E/S estimates.
Revenue fell 5 percent to $350.5 million, slightly below the $359.5 million analysts had expected.
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The company narrowed its profit per share forecast for the full-year to between $1.65 and $1.80 from the previous forecast of $1.60 to $1.80.
