Calgon Carbon Corporation (CCC) Q4 2012 Earnings Call February 21, 2013 10:00 AM
ET
Operator
Ladies and gentlemen, thank
you for standing by, and welcome to the Calgon Carbon Corporation's Fourth
Quarter 2012 Results Call. All lines have been placed on mute to prevent any
background noise. After the speakers' remarks, there will be a question-and-answer
session.
(Operator Instructions)
I will now like to turn the
call over to Gail Gerono, Vice President of Investor Relations. Please go
ahead.
Thank
you. Good morning and thank you for joining us. Our speakers today are Randy
Dearth, Calgon Carbon’s CEO, Bob O'Brien our Chief Operating Officer and Steve
Schott our CFO.
Before we begin, I would like
to remind you that the Private Securities Litigation Reform Act of 1995
provides a Safe Harbor for forward-looking statements. Today's presentations or
perhaps some of the comments that Calgon Carbon’s executives make during the
Q&A may contain statements that are forward-looking. Forward-looking
statements typically contain words such expect, believe, estimate, anticipate,
or similar words indicating that future outcomes are uncertain.
Statements looking forward in
time including statements regarding future growth and profitability, price
increases, cost savings, broader product lines, enhanced competitive posture
and acquisitions are included in the Company's most recent annual report
pursuant to the Safe Harbor provision of the Private Securities Litigation
Reform Act of 1995. They involve known and unknown risks and uncertainties that
may cause the Company's actual results in future periods to be materially
different from any future performance suggested during the webcast.
Further, the Company operates
in an industry sector where securities values may be volatile and may be
influenced by economic and other factors beyond the Company's control. Some of
the factors that could affect the future performance of the company are changes
in or delays in the implementation of regulations that cause the market for our
products, acquisitions high energy and raw material costs, costs of imports and
related tariffs, labor relations, capital and environmental requirements,
changes in foreign currency exchange rates, borrowing restrictions, validity of
patents and other intellectual property, and pension costs.
In the context of the
forward-looking information provided in this webcast, please refer to the
discussions of risk factors and other information detailed in, as well as the
other information contained in the Company's most recent Annual Report. Randy?
Thanks,
Gail and welcome everyone to the call. First I would like to reiterate what I
said in our press release that was issued earlier today. Calgon Carbon’s
financial performance for the fourth quarter of 2012 was solid, generating
earnings per share of $0.16. We had a good quarter and we also made excellent
progress on our corporate initiatives, especially in reducing cost.
I will review that progress
and discuss future initiatives a bit later. First, Steve will review the
company’s financial performance for the fourth quarter and then Bob will
provide a review of operations. So, Steve?
Steve Schott
Thanks, Randy. Good morning,
everyone. Total sales for the fourth quarter of 2012 were $141.8 million
compared to $138.2 million in the fourth quarter of 2011, the sales increase of
$3.6 million or 2.6% was primarily due to higher sales in the Activated Carbon
and Service segment of $5.1 million in spite of $1 million of unfavorable
foreign exchange effects. The increased sales in the Activated Carbon and
Service segment were partially offset by a decline in the Equipment segment
sales of $2.1 million.
