Ecolab Reports 2Q Earnings

The Minneapolis-based company reported net sales rose 5% to $1.5 billion in the second quarter of 2010.

July 28, 2010

MINNEAPOLIS, Minn. -  Ecolab reported net sales rose 5% to $1.5 billion in the second quarter of 2010; measured in fixed currencies, sales rose 3%. Net income attributable to shareholders increased 30% to $129 million, with reported diluted earnings per share up 32% to $0.54.

Second quarter 2010 and 2009 results included special gains and charges and discrete tax items. Excluding those items, adjusted second quarter 2010 diluted earnings per share were $0.56, a 12% increase from adjusted second quarter 2009 diluted earnings per share of $0.50. Currency translation had a favorable effect on reported and adjusted diluted earnings per share of $0.01 per share in the second quarter of 2010.

Second quarter 2010 sales for Ecolab's U.S. Cleaning & Sanitizing operations rose 3% to $689 million. Ecolab's U.S. Cleaning & Sanitizing operating income increased 10% to $139 million.

U.S. Other Services sales were flat when compared with last year at $115 million. Operating income grew 2% to $19 million.

Source: Ecolab