Koppers Holdings Inc. (KOP, Financial) filed Quarterly Report for the period ended 2012-06-30.
Koppers Holdings Inc. has a market cap of $707.3 million; its shares were traded at around $30.41 with a P/E ratio of 10.8 and P/S ratio of 0.5. The dividend yield of Koppers Holdings Inc. stocks is 2.8%.
R&UP operating profit increased by $2.2 million or 17 percent. Operating profit as a percentage of net sales for R&UP increased to 10.4 percent from 9.3 percent in the prior year quarter. Operating profit for the three months ended June 30, 2012 was positively affected by higher prices for railroad crossties and a favorable product mix, which more than offset reduced sales volumes of railroad crossties.
Income taxes for the six months ended June 30, 2012 were $3.7 million higher when compared to the prior year period due primarily to an increase in income before taxes of $9.0 million. The Companys effective income tax rate prior to discrete items for the six months ended June 30, 2012 was 34.4 percent as compared to the prior year period of 35.9 percent. The reduction in the rate was due primarily to the mix of earnings weighted to the lower tax rate jurisdictions in 2012 compared to 2011.
Additionally, operating profit for the six months ended June 30, 2011 was negatively impacted by $1.0 million of incremental inventory storage and logistics costs in North America. For the six months ended June 30, 2012 a refund of approximately $3.6 million resulting from a supplier audit of material transport weights almost entirely offset a $3.1 million increase in our allowance for doubtful accounts due to a customer collection issue in Europe combined with $2.4 million of costs related to a pitch tank rupture and resulting spill in Australia that occurred in the first quarter of 2012.
R&UP operating profit increased by $3.8 million or 19 percent. Operating profit as a percentage of net sales for R&UP increased to 8.7 percent from 7.8 percent in the prior year period. Operating profit for the six months ended June 30, 2012 was positively affected by higher prices for railroad crossties and a favorable product mix, which more than offset reduced volumes for railroad crossties.
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Koppers Holdings Inc. has a market cap of $707.3 million; its shares were traded at around $30.41 with a P/E ratio of 10.8 and P/S ratio of 0.5. The dividend yield of Koppers Holdings Inc. stocks is 2.8%.
Highlight of Business Operations:
CM&C operating profit increased by $0.5 million or two percent. Operating profit as a percentage of net sales for CM&C decreased to 9.8 percent from 10.8 percent in the prior year quarter. Operating profit for the three months ended June 30, 2012 was negatively affected by higher coal tar costs combined with lower volumes for carbon pitch in North America, Australia and Europe, which more than offset the positive impact of lower coal tar costs and higher carbon pitch volumes for Chinese operations and higher prices for carbon pitch, carbon black feedstock and phthalic anhydride. For the three months ended June 30, 2012 a refund of approximately $3.6 million resulting from findings of a supplier audit of material transport weights almost entirely offset a $3.1 million increase in our allowance for doubtful accounts due to a customer collection issue in Europe combined with $0.8 million of costs related to a pitch tank rupture and resulting spill in Australia that occurred in the first quarter of 2012 .R&UP operating profit increased by $2.2 million or 17 percent. Operating profit as a percentage of net sales for R&UP increased to 10.4 percent from 9.3 percent in the prior year quarter. Operating profit for the three months ended June 30, 2012 was positively affected by higher prices for railroad crossties and a favorable product mix, which more than offset reduced sales volumes of railroad crossties.
Income taxes for the six months ended June 30, 2012 were $3.7 million higher when compared to the prior year period due primarily to an increase in income before taxes of $9.0 million. The Companys effective income tax rate prior to discrete items for the six months ended June 30, 2012 was 34.4 percent as compared to the prior year period of 35.9 percent. The reduction in the rate was due primarily to the mix of earnings weighted to the lower tax rate jurisdictions in 2012 compared to 2011.
Additionally, operating profit for the six months ended June 30, 2011 was negatively impacted by $1.0 million of incremental inventory storage and logistics costs in North America. For the six months ended June 30, 2012 a refund of approximately $3.6 million resulting from a supplier audit of material transport weights almost entirely offset a $3.1 million increase in our allowance for doubtful accounts due to a customer collection issue in Europe combined with $2.4 million of costs related to a pitch tank rupture and resulting spill in Australia that occurred in the first quarter of 2012.
R&UP operating profit increased by $3.8 million or 19 percent. Operating profit as a percentage of net sales for R&UP increased to 8.7 percent from 7.8 percent in the prior year period. Operating profit for the six months ended June 30, 2012 was positively affected by higher prices for railroad crossties and a favorable product mix, which more than offset reduced volumes for railroad crossties.
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