Norwalk, Connecticut -- Arch Chemicals Inc. reported full-year sales of $1492 million in 2008, compared to $1487 million in 2007. Earnings per share for 2008 were $1.49 on $37.0 million of income.
Arch's segment operating income was $113.7 million in 2008 compared to $115.8 million in 2007.
The US biocide and speciality chemicals group said for the full-year 2009 it expects sales growth of two to four percent, while earnings from continuing operations are expected to be in the range $1.85 to $2.05 per share.
"Despite the deterioration in global economies, we are very pleased with our 2008 operating results, particularly our strong finish to the year," commented Arch Chemicals' chairman, president and ceo Michael Campbell, in the results statement.
Noting record profitability again in water products, personal care and industrial biocides businesses, which Campbell said shows, "the value of our strategic focus on our core biocides businesses," he added that operating income from the performance urethanes business exceeded expectations. In this business, which supplies glycols and polyols, "We were able to maintain pricing in the face of a decline in raw material costs," the Arch chief said.
Urethanes results are included in Arch's Performance Products division, which had sales of $47.0 million (2007: $61.7 million) and operating income of $13.6 million (2007: $2.2 million).
Arch said sales in performance urethanes decreased by about 25 percent over those in 2007, due to lower polyol and glycol sales, largely due to the slowing US economy. But the lower volumes were partially offset by higher pricing, Arch added.