Nalco reports 2Q boost from Gulf work

NAPERVILLE, Ill.

Water treatment company Nalco Holding Co. said its role in efforts to control the Gulf of Mexico oil spill boosted its second-quarter results.

Nalco, which makes the chemicals being used to disperse oil in the Gulf, reported Wednesday that it earned $57 million, or 41 cents per share, for the quarter. That's compared with a loss of $29.2 million, or 21 cents per share, in the prior year.

Adjusted for several one-time items, the company earned 41 cents per share.

Revenue grew 19 percent to $1.09 billion.

Excluding $70 million in sales of products used by the government and BP in responding to the oil spill, revenue grew 9 percent, the company said.

Analysts polled by Thomson Reuters expected the company to earn 40 cents per share on revenue of $1 billion.

Shares of Nalco fell 17 cents to $24.60 afternoon trading after trading as high as $25.37 following the news.