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Philadelphia -- Rohm and Haas Co. has reported fourth quarter sales of $1.4 billion, a 7 percent increase over the same period in 2001, reflecting solid improvement in the Coatings, Electronic Materials, Salt and Monomers businesses.
The company reported a net loss of $38 million, or 17 cents per share for the fourth quarter of 2002. Fourth quarter 2001 pro forma earnings were $57 million or 26 cents per share, adjusted to exclude amortization of certain intangibles in accordance with Statement of Financial Accounting Standards (SFAS) No. 142.
Rohm and Haas reported full-year 2002 sales of $5.7 billion, relatively flat with 2001. Sales growth in many key businesses was offset by the impact of exited businesses. Net loss as-reported for 2002 was $570 million, compared with earnings of $395 million in 2001. Full-year 2002 earnings from continuing operations, excluding unusual items, were $339 million, a 26 percent increase over earnings of $268 million for the full year 2001.
Rohm and Haas is a specialty chemical company that makes products for the personal care, grocery, home and construction markets, and the electronics industry. The company has annual sales of approximately $5.7 billion and operations in more than 25 countries. For more information, visit www.rohmhaas.com.