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Calgon Carbon Restates Financials
PITTSBURGH, PA – 11/28/2006
Calgon Carbon Corporation (NYSE: CCC) announced that it has restated its unaudited financial statements for the first and second quarters of 2006. In amended Form 10-Q/As, which were filed with the Securities and Exchange Commission today, the company corrected errors in the computation of its income tax provision for the periods ended March 31, 2006 and June 30, 2006.
The effect of the restatement on the company’s statements of operations is as follows:
| Three Months Ended March 31, 2006 As Previously | ||||||||||
| Reported | As Restated | |||||||||
| (Dollars in Thousands, Except Per Share Data) | ||||||||||
| Statement of Operations: | ||||||||||
| Benefit for income taxes | $316 | $345 | ||||||||
| Net loss from continuing operations | (3,018) | (2,989) | ||||||||
| Income from discontinued opereations | 3,016 | 1,575 | ||||||||
| Net loss | $(2) | $(1,414) | ||||||||
| Net income (loss) per common share | ||||||||||
| Basic and Diluted: | ||||||||||
| Loss from continuing operations | $(.08) | $(.08) | ||||||||
| Income from discontinued operations | .08 | .04 | ||||||||
| Net income (loss) | $.00 | $(.04) | ||||||||
| Three Months Ended June 30, 2006 | Six Months Ended June 30, 2006 | ||||||||||||
| As Previously Reported | As Restated | As Previously Reported | As Restated | ||||||||||
| (Dollars in Thousands, Except Per Share Data) | |||||||||||||
| Statement of Operations: | |||||||||||||
| Benefit for income taxes | $2,446 | $925 | $2,761 | $1,270 | |||||||||
| Net income (loss) from continuing operations | 3,660 | 2,139 | 641 | (850) | |||||||||
| Income from discontinued operations | 306 | 297 | 3,323 | 1,872 | |||||||||
| Net income | $3,966 | $2,436 | $3,964 | $1,022 | |||||||||
| Net income per common share | |||||||||||||
| Basic and Diluted: | |||||||||||||
| Income (loss) from continuing operations | $.09 | $.05 | $.02 | $(.02) | |||||||||
| Income from discontinued operations | .01 | .01 | .08 | .05 | |||||||||
| Net income | $.10 | $.06 | $.10 | $.03 | |||||||||
Calgon Carbon Corporation, headquartered in Pittsburgh, Pennsylvania, is a global leader in services and solutions for making air and water cleaner and safer.
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. This document contains certain statements that are forward-looking relative to the company’s future strategy and performance. They involve known and unknown risks and uncertainties that may cause the company’s actual results in future periods to be materially different from any future performance.