(RTTNews) - Olin Corporation (OLN), a manufacturer and distributor of chemical products, reported a first-quarter loss, primarily due to lower sales.
Net loss attributable to Olin was $83 million or $0.73 per share, compared with net income of $1.4 million or $0.01 per share in the prior-year quarter.
The company posted an operating loss of $78.3 million, compared with operating income of $43.7 million a year earlier.
Sales declined 3.7% to $1.583 billion from $1.644 billion last year.
Olin shares closed at $26.76 on Thursday, down 7.08%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
