Rohm and Haas reported that sales for the fourth quarter 2003 are expected to be 10-12% higher than the same period a year earlier.
Company executives said this was partly due to stronger demand in R & H’s high value businesses, such as coatings and electronic materials, as well as the favorable impact of currencies and acquisitions.
“We continue to see signs that the economic recovery is finally materializing,” said Raj Gupta, chairman and chief executive officer. “In October we saw the highest ever monthly sales for the current business portfolio, and while that pace has slowed slightly as the year ends, this top-line improvement will help bolster our gross profit margins. In addition, our cash generation in the fourth quarter will be exceptionally strong, and we have identified significant cost reduction initiatives as a result of our multi-year implementation of the ERP system.” He added, “The improved economic environment is contributing to strong top-line growth in our high value businesses, and we are benefitting from this momentum.”