Ecolab's 2Q Profits Rise 14 Percent

ST. PAUL, Minn — Ecolab said Tuesday its second-quarter profit rose thanks to new accounts, products and better pricing.

The company earned $93.2 million, or 36 cents per share, up 15 percent from $81.4 million, or 31 cents per share, during the same period a year ago.

Sales climbed 6 percent to $1.23 billion from last year's $1.16 billion.

Analysts polled by Thomson Financial were looking for earnings of 36 cents per share on sales of $1.22 billion. Both the company's results and the analyst estimates include stock options costs.

"New accounts, new products and productivity gains led our growth. Better pricing and operating efficiency improvements lifted operating margins," said Douglas M. Baker, chairman, president and chief executive, in a statement.

For the third quarter, the company expects to post earnings between 42 cents and 43 cents per share, in line with consensus estimates of 42 cents per share.

For the full year, Ecolab expects earnings between $1.41 and $1.43 per share, in line with analyst estimates of $1.42 per share.

Source: Ecolab