Olin Corp. (OLN) reported second quarter 2014 income from continuing operations of $36.6 million or $0.46 per share, compared to $43.7 million or $0.54 per share for the year-ago quarter.
Second quarter 2014 net income includes income from discontinued operations of $0.7 million, or $0.01 per share. It also includes pretax restructuring charges of $2.3 million and a pretax gain for a contract matter of $1.0 million.
Sales in the second quarter fell to $570.4 million from $652.2 million a year ago.
Analysts polled by Thomson Reuters expected the company to earn $0.45 per share on revenue of $636.21 million for the second quarter.
Looking forward,, the company forecasts third quarter earnings to be in the $0.30 to $0.35 per share range, which includes about $9.5 million of pretax expense for the call premium and unamortized deferred debt issuance costs related to the $150 million 8.875% Senior Notes due in 2019 that the company palns to redeem in the quarter. Analysts currently expect the company to earn $0.57 per share for the third quarter.
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