Kronos Worldwide, Inc. Provides Earnings Guidance for the Fourth Quarter and Full Year Ended December 31, 2013
January 30, 2014 at 07:17 pm IST
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Kronos Worldwide, Inc. provided earnings guidance for the fourth quarter and full year ended December 31, 2013. The company expects to report net sales for the fourth quarter of 2013 of $368.6 million compared to net sales of $396.8 million as reported in the fourth quarter of 2012. Adjusted EBITDA (EBITDA excluding the $9 million of one-time Canadian costs and the litigation settlement charge, as applicable) is expected to be approximately $21 million in the fourth quarter of 2013 compared to $12 million in the fourth quarter of 2012.
For the full year of 2013, the company expects to report net sales of $1,732.4 million compared to net sales of $1,976.3 million in 2012. The expected decrease in net sales is due primarily to lower average TiO2 selling prices partially offset by higher sales volumes in the full year period of 2013. The company expected to be an adjusted EBITDA loss of approximately $38 million for the full year of 2013 compared to $412 million income in 2012.
Kronos Worldwide, Inc. is a global producer and marketer of value-added titanium dioxide pigments, or TiO2, a base industrial product used in a wide range of applications. The Company, along with its distributors and agents, sells and provides technical services for its products. TiO2 is a white inorganic pigment used in applications, such as coatings, plastics and paper, as well as many specialty products such as inks, cosmetics and pharmaceuticals. The Company offers its customers a broad portfolio of products that include over 50 different TiO 2 pigment grades under the KRONOS trademark, which provide a variety of performance properties to meet customers' specific requirements. The Company manufactures and sells iron-based chemicals, which are co-products and processed co-products of the sulfate and chloride process TiO2 pigment production. It also manufactures and sells other specialty chemicals, which are side-stream products from the production of TiO2.
KRONOS WORLDWIDE, INC. 
