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Koppers Releases First
Quarter Earnings
Apr.16, 2002, Pittsburgh, Pennsylvania — Net
income of Koppers, Inc. ("Koppers") for the quarter ending
March 31, 2002 was $1.8 million compared to $0.6 million in the
first quarter of 2001. Sales in the quarter were $165.3 million,
down 5% from the $174.7 million reported in the comparable 2001
period, primarily as a result of weakened demand in the U.S. Carbon
Materials & Chemicals business.
Commenting on the first quarter,
President and CEO Walter W. Turner said, "Although certain
segments of our business continue to face significant pressure,
we are beginning to see improvement
in our core business units. Koppers global Railroad Products segment
posted revenue profit gains over the comparable first quarter and
our backlog is encouraging. In our Carbon Materials & Chemicals
business, cost cutting initiatives and steady demand in Australia
and Europe has allowed us to stay profitable despite reduced revenues
in both our U.S. Coke and Chemicals business units. We remain focused
on safety and environmental performance for our employees and the
communities in which we operate, as well as cost control and productivity
as we continue to strive to deliver the highest valued products
and services to our customers."
Koppers is a global integrated
producer of carbon compounds and treated wood products for use
in a variety of markets including
the railroad, aluminum, chemical and steel industries. The Company
operates 39 facilities with locations in the United States, the
South Pacific (primarily Australia and New Zealand), Europe and
South Africa. The Company also maintains an indirect ownership
interest in an additional facility in the United States through
its domestic joint venture KSA. The Company's stock is shared
by a large number of employee investors and by majority equity
owner
Saratoga Partners of New York City.
View the "Koppers Results for
First Quarter 2002" |
