Olin Adjusts Quarterly Guidance – Upwards
CLAYTON, MISSOURI – -(ShootingWire.com)- Olin Corporation (NYSE: OLN) announce it now expects first quarter 2009 earnings to be in the $0.60 to $0.65 per diluted share range. On January 26, 2009, Olin provided first quarter 2009 earnings per share guidance of $0.50 to $0.65 per diluted share.
Joseph D. Rupp, Chairman, President, and Chief Executive Officer commented, “Our first quarter 2009 earnings guidance reflected a lack of visibility in demand in our Chlor alkali business. We now expect to realize record ECU netbacks, but we have seen a continuation of the weak demand that we experienced late in the fourth quarter of 2008. Demand in our Winchester business has remained strong and we now expect Winchester to achieve a record level of quarterly earnings in the first quarter. First quarter 2009 earnings will also include a $3.7 million pre-tax gain associated with the sale of land.”
Olin will release its first quarter 2009 earnings after the close of business on April 27, 2009 and will hold a conference call to review those earnings on April 28, 2009.
Olin Corporation is a Virginia Corporation, incorporated in 1892, having its principal executive offices in Clayton, MO. We are a manufacturer concentrated in two business segments: Chlor Alkali Products and Winchester.
Winchester is in its 140th year of operation and its 76th year as part of Olin. Winchester products include sporting ammunition, reloading components, small caliber military ammunition and components, and industrial cartridges.