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Jodi Allen
Investor Relations
(973) 357-3283
Cytec Provides Second Quarter Earnings Update
Woodland Park, New Jersey, July 13, 2012 – Cytec Industries Inc.
(NYSE:CYT) announced today that it estimates its adjusted
earnings per diluted share for the second quarter of 2012 to be
between $1.50 and $1.55 per share. The main drivers for the
quarter’s excellent results are strong performance in the In
Process Separation and Coating Resins business segments.
Engineered Materials and Additive Technologies performed well
and are on track with prior guidance. Excluded from adjusted
earnings per share amounts are restructuring and other charges
related to the Coating Resins sale process and the acquisition
of Umeco.
Cytec will issue its second quarter 2012 earnings release on
July 19, 2012 with the Coating Resins segment reported as
discontinued operations. The company will also provide updated
full year 2012 guidance.
Use of Non-GAAP Measures
Management believes that earnings per share before special
items, which is a non-GAAP measurement, is meaningful to
investors because it provides a view of the Company with respect
to ongoing operating results. Special items represent
significant charges or credits that are important to an
understanding of the Company’s overall operating results in the
period presented. Such non-GAAP measurements are not recognized
in accordance with generally accepted accounting principles
(GAAP) and should not be viewed as an alternative to GAAP
measures of performance.
Forward-Looking and Cautionary Statements
Except for the historical information and discussions contained
herein, statements contained in this release may constitute
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. Achieving the results
described in these statements involves a number of risks,
uncertainties and other factors that could cause actual results
to differ materially, as discussed in Cytec’s filings with the
Securities and Exchange Commission.
Corporate Profile
Cytec’s vision is to deliver specialty chemical and material
technologies beyond our customers’ imagination. Our focus on
innovation, advanced technology and application expertise
enables us to develop, manufacture and sell products that change
the way our customers do business. Our pioneering products
perform specific and important functions for our customers,
enabling them to offer innovative solutions to the industries
that they serve. Our products serve a diverse range of end
markets including aerospace composites, structural adhesives,
automotive and industrial coatings, electronics, inks, mining
and plastics.
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