Calgon Carbon Corporation
) has been awarded with a granular activated carbon (GAC) supply
contract by DaeWoo Engineering and Construction Co. Ltd. Calgon
Carbon will be supplying 5.6 million pounds of GAC to the Gu Eui
Municipal Drinking Water Plant in Seoul City, South Korea, for
drinking water treatment.
The Gu Eui plant supplies 119 million gallons of potable water
per day to roughly 600,000 residents in GwangJin-gu, Seoul, South
Korea. The newly constructed carbon filters at the plant will be
installed with GAC, which will help in removing unpleasant taste
and odor from the plant's source water.
Based on Calgon Carbon's rigorous product quality assurance
procedure and the excellent long-term performance of its products
that have been installed in several other municipal drinking
water treatment plants in Korea, the company was selected for the
Calgon Carbon released its fourth-quarter 2013 results on Feb
19. The company's earnings for the quarter were 20 cents per
share, up from 16 cents per share in the year-ago quarter. The
quarterly results beat the Zacks Consensus Estimate by a
Calgon Carbon posted net income of $11 million in the reported
quarter compared with $9.1 million recorded in the prior-year
quarter. The year-ago quarter's results were hurt by
restructuring charges of $2.3 million.
Revenues decreased roughly 6.1% year over year to $133.1
million in the reported quarter from $141.8 million recorded in
the year-ago quarter. It lagged the Zacks Consensus Estimate of
The decline in sales was due to lower sales of activated
carbon in Asia, including Japan, and lower demand for mercury
removal carbon in the U.S. Currency translation had a negative
impact of $1.6 million on sales, stemming from a strong U.S.
Calgon Carbon expects to benefit from the implementation of
its cost reduction program and corporate initiatives, going
forward. The company will continue to capitalize on opportunities
for revenue growth from environmental regulations for mercury
removal from coal-fired power plants and for ballast water
Calgon Carbon's Board has approved $85 million for capital
spending for 2014 that is expected to increase carbon production
capacity while reducing costs.
Calgon Carbon has a Zacks Rank #5 (Sell).
Other companies in the pollution control industry worth
Sharps Compliance Corp
Tetra Tech Inc.
Pure Cycle Corp.
). While Sharps Compliance carries a Zacks Rank #1 (Strong Buy),
Tetra Tech and Pure Cycle have a Zacks Rank #2 (Buy).
CALGON CARBON (CCC): Free Stock Analysis
PURE CYCLE CORP (PCYO): Free Stock Analysis
SHARPS COMPLIAN (SMED): Free Stock Analysis
TETRA TECH NEW (TTEK): Free Stock Analysis
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