Ecolab operating income falls 20 per cent
13 February 2009 00:00 in Medical Company Financials
Ecolab's operating income has been reported as 20 per cent lower in its fourth-quarter 2008 results.
Standing at $139.8 million (96.37 million pounds), the figure was $174.3 million in the fourth quarter of 2007.
The company also revealed its pretax earnings were down 23 per cent over the same period.
However, net sales increased three per cent from $1,439.8 million to $1,483.3 million.
Douglas Baker Jr, chairman, president and chief executive officer of Ecolab, said the company "continued to deliver" through the current economic climate.
Admitting 2009 will be "challenging", he went on to state the organisation is "well-positioned with significant competitive advantages, a great team and a strong balance sheet".
Mr Baker Jr concluded the group's aims this year were to build its market status, invest in initiatives, reposition to fully leverage the economy and continue to drive growth.
In October, Ecolab announced in its third-quarter results its operating income had increased 18 per cent on the same time in 2007 - from $171.6 million to $201.7 million.
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