Ashland Inc. Q3 Profit Increases, But Misses Estimates

(RTTNews) - Ashland Inc. (ASH) announced a profit for its third quarter that Increased from the same period last year but missed the Street estimates.

The company's earnings came in at $33 million, or $0.71 per share. This compares with $19 million, or $0.33 per share, last year.

Excluding items, Ashland Inc. reported adjusted earnings of $37 million or $0.81 per share for the period.

Analysts on average had expected the company to earn $1.26 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 8.4% to $478 million from $522 million last year.

Ashland Inc. earnings at a glance (GAAP) :

-Earnings: $33 Mln. vs. $19 Mln. last year. -EPS: $0.71 vs. $0.33 last year. -Revenue: $478 Mln vs. $522 Mln last year.