W. R. Grace Net Income Jumps Nearly 50 Percent in Third Quarter 2011

Columbia-based W. R. Grace & Co. (NYSE: GRA) reported its fourth consecutive quarterly increase in net income with a 48.1 percent jump in the third quarter of 2011 ended September 30, 2011. Total net income came to $81.3 million or $1.07 per diluted share. The prior-year quarter net income totaled $54.9 million.

The company which provides products to petroleum refiners is approaching $1 billion in sales in a quarter. Net sales surged 26.7 percent, a total of $864.2 million compared to $682.1 million in the same period of 2010 for the third quarter 2011 due primarily to improved pricing.

The Howard County company beat average analyst estimates for earnings by a penny. The high was $1.12 per diluted share and a low estimate of $1.03 per diluted share.

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