Nalco says revenues up 10%

NAPERVILLE -- Nalco announced Tuesday what it called "solid" first-quarter revenue and earnings growth for the first quarter.

Nalco said in a release that revenues increased 10 percent with net earnings of $25 million resulting in diluted earnings of 18 cents per share, up 6 percent compared to 17 cents per share on $23 million in net earnings in 2009. Adjusted earnings before interest, taxes, depreciation and amortization of $164 million represented the company's best historical first quarter performance and well above 2009 first quarter adjusted EBITDA of $136 million, the company said.

"We have a lot of work to do to achieve our goals this year given continued economic uncertainties and our need to push price to address rising raw material costs," said Chairman and Chief Executive Officer Erik Fyrwald in a prepared statement. "Despite these pressures, we remain confident in our ability to deliver top- and bottom-line growth."