Ecolab Delivers Strong Fourth Quarter Increase
Fourth quarter reported EPS $0.48, +45%; adjusted EPS $0.55, +22%, excluding special gains and
charges and discrete tax items
Reported full year 2009 EPS $1.74, -3%; adjusted EPS $1.99, +7%, excluding special gains and charges and
discrete tax items
February 11, 2010 08:52 AM Eastern Time
ST. PAUL, Minn.--(EON: Enhanced Online News)--Ecolab Inc. (NYSE: ECL):
2009 FOURTH QUARTER HIGHLIGHTS:
l Record reported diluted EPS $0.48, +45%
l Adjusted EPS $0.55, +22%, excluding special gains and charges and discrete tax items
l Record sales +5% to $1.6 billion; fixed currency sales +2%
l U.S. Kay and Healthcare report double-digit sales gains; Canada and Asia Pacific strong, more
than offset lower Europe and U.S. Other Services sales
l New account sales, pricing, cost-saving actions and favorable raw material comparisons more than
offset the effects of global recession
l Distributor program change, as expected, benefited both reported and adjusted EPS by
approximately $0.03
Ecolab Inc. reported strong fourth quarter earnings as results were led by new account gains, pricing, cost-savings
actions and favorable raw material comparisons.
Ecolab's reported net sales increased 5% to $1.6 billion in the fourth quarter of 2009; measured in fixed currencies,
sales rose 2%. Excluding the impact of a change in distributor incentive programs and acquisitions and divestitures,
fixed currency sales increased 1%. Net income increased 45% to $116 million. Reported diluted earnings per share
increased 45% to $0.48.
Fourth quarter 2009 and 2008 results included special gains and charges and discrete tax items. Excluding those
items, adjusted fourth quarter 2009 diluted earnings per share were $0.55, a 22% increase over adjusted fourth
quarter 2008 diluted earnings per share of $0.45. The fourth quarter 2009 also included the effects of a change in
distributor incentive programs made earlier in the year; this reversed a reduction in sales and earnings in