CLEVELAND, July 29, 2010 /PRNewswire via COMTEX/ (英文版全文下载)--
·Second quarter revenues of $1.40 billion increased 26 percent from prior year largely due to increased volume
·Guidance for 2010 EPS increased to a range of $9.52 to $9.92, including restructuring charges of $.08, and increased to a range of $9.60 to $10.00 excluding these charges
·Share repurchases in the quarter totaled $65.3 million
The Lubrizol Corporation (NYSE: LZ) announced that consolidated earnings for the second quarter ended June 30, 2010, were $201.4 million, or $2.88 per diluted share, including after-tax restructuring charges of $0.3 million, or less than $.01 per diluted share, primarily related to restructuring initiatives in the Advanced Materials segment. Comparable earnings for the second quarter of 2009 were $131.9 million, or $1.92 per diluted share, which included after-tax restructuring and impairment charges of $6.5 million, or $.10 per diluted share, primarily related to a non-cash 美式喉箍write off of preliminary process engineering design work and expenses associated with the cost reduction actions initiated in the first quarter of 2009.
Second Quarter Consolidated Results
Consolidated revenues for the second quarter increased 26 percent to $1.40 billion compared with $1.11 billion in the second quarter of 2009. The year-over-year increase in revenues largely was due to 19 percent higher volume and an 8 percent improvement in the combination of price and product mix that more than offset a 1 percent impact from unfavorable currency.
Excluding the special charges in both periods, adjusted earnings were $201.7 million, or $2.88 per diluted share, for the second quarter of 2010 compared with $138.4 million, or $2.02 per diluted share, for the second quarter of 2009.
Adjusted earnings per share for the second quarter of 2010 increased compared with the prior-year second quarter largely due to higher volume, improvement in the combination of price and product mix, lower selling and administrative expenses and increased other income from foreign exchange gain例如：PC、PEEK等高性能改性塑料都在电子电器中有显著的利用s. These positive factors impacting earnings more than offset the effect of higher raw material costs and increased manufacturing costs attributable to higher production levels.
Commenting on the results, CEO James Hambrick stated, "I am extremely pleased by our second quarter results, which further demonstrate the success of our ongoing efforts in providing the innovative chemical and material technologies that are valued by our customers. In a continuation of first quarter trends, all product lines and geographic markets experienced strong year-over-year and sequential volume increases due to further recovery in demand, underlying market growth and favorable order patterns. Also, despite the anticipated pressure on margins from higher raw material costs, operating results in e蛏子养殖ach segment benefited from the strong volume and a favorable product mix from top-performing businesses, such as driveline and industrial additives, Estane(R) engineered polymers and Noveon(R) consumer specialties. Lastly, we continue to manage near-term expenses, while maintaining a proper focus on the long-term investment necessary to build and sustain our market leadership positions."
Si1次输入x Month Consolidated Results
For the first six months of 2010, consolidated revenues increased 28 percent to $2.72 billion compared with $2.12 billion for the first six months of 2009. Consolidated earnings were $363.7 million, or $5.21 per diluted share, including after-tax restructuring and impairment charges of $0.9 million, or $.01 per diluted share. Earnings for the first six months of 2009 were $196.1 million, or $2.87 per diluted share, including after-tax restructuring and impairment charges of $14.1 million, or $.21 per diluted share. Excluding the special charges fro以制成产品m both periods, earn感应器ings of $5.22 per diluted share in the first half of 2010 compared with $3.08 per diluted share in the first half of 2009.
Cash flow from operations for the first six months of 2010 was $273 million, down from $447 million in the year-earlier period. The decrease in cash flow from operations primarily was attributable to the change in inventory balances in the two periods together with higher cost inventory in 2010 and higher receivables from increased revenues, parti夹具起着非常重要的作用ally offset by the improvement in earnings. Capital expenditures in the first half of 2010 were approximately $63 million, which compared with $76 million in the prior-year period. Some of this lower spending was the consequence of continued high plant utilization levels and the allocation 蒸馏器of project management resources. The company's cash balance at June 30, 2010, was $972 million compared with a cash balance of $991 million at December 31, 2009.