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News Breaks
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October 28, 2009
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| 15:17 EDT |  | KWR |
| theflyonthewall.com: | Quaker Chemical CEO sees near term uncertainty in demand | | Quaker Chemical (KWR) CEO Michael Barry noted that despite a strong Q3 performance, there remains "uncertainty in demand" in many of the company's markets. In spite of lower overall volumes, gross margin of 37.4% in Q3 was an improvement from Q2, but still down year-over-year. Barry attributes the gain to lower raw material costs and two major cost cutting initiatives implemented earlier this year. The company is beginning to see modest raw material cost increases, but will not forecast trends going forward. CFO Mark Featherstone maintains that the balance sheet and cash flow are quite strong which will enable the company to exploit opportunities as they arise. Although no estimates for EPS or revenue were provided, the senior executives are "pleased with the overall progress of the company and feel it is well-positioned for the future." These comments made on Quaker's Q3 earnings conference call. :theflyonthewall.com |
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