Calgon Antidumping Order Extended - Analyst Blog
February 11 2013 - 6:00AM
Zacks
Calgon Carbon Corporation (CCC) has announced
that the antidumping order on steam activated carbon imported into
the U.S. from China has been extended by at least another five
years by the U.S. International Trade Commission (ITC).
Once the Chinese activated carbon enter the U.S. markets, the
importers will have to make cash deposits of estimated anti dumping
tariffs. The tariff rates will be determined by the U.S. Department
of Commerce (DOC). At the end of the fifth year, the DOC and ITC
will further review if the order can be extended.
Current average tariff rate, as announced in Nov 2012, is 47
cents per pound and this will be maintained for a year till Nov
2013. Calgon Carbon’s tariff on activated carbon imported into the
U.S. from China is currently nil.
Calgon Carbon released its third-quarter 2012 results in Nov 2012.
The company incurred a loss of $4.5 million or 8 cents a share in
the quarter compared with a profit of $14.5 million or 25 cents a
share a year ago.
Excluding a restructuring charge of $8 million, the
Pennsylvania-based pollution control company earned 6 cents a share
in the quarter, which missed the Zacks Consensus Estimate of 12
cents.
Revenues fell 5.6% year over year to $135.5 million, and missed
the Zacks Consensus Estimate of $143.0 million. Currency
translation had a negative impact of $3.2 million on sales,
stemming from a stronger dollar.
Calgon Carbon remains confident in its ability to balance the
need for future investment with its responsibility to provide
short-term returns.
Despite some challenges, the company expects to continue to
capitalize on its growth opportunities. The company’s healthy sales
gains and strategic initiatives will be beneficial in the long
term.
Calgon Carbon currently retains a Zacks Rank#3 (Hold).
Other companies in the pollution control industry having a
favorable Zacks rank are CECO Environmental Corp.
(CECE), MFRI Inc. (MFRI) and Progressive
Waste Solutions Ltd. (BIN). While CECO Environmental Corp.
carries Zacks Rank #1 (Strong Buy), MFRI and Progressive Waste
carry a Zacks Rank #2 (Buy).
PROGRESSV WASTE (BIN): Free Stock Analysis Report
CALGON CARBON (CCC): Free Stock Analysis Report
CECO ENVIRNMNTL (CECE): Free Stock Analysis Report
MFRI INC (MFRI): Free Stock Analysis Report
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