Grace Reports Third Quarter Results.

Improved Profitability and Strong Cash Flow

COLUMBIA, Md. -- W. R. Grace & Co. (NYSE:GRA) today announced its financial results for the third quarter ended September 30, 2009. Highlights are as follows:

* Sales for the third quarter were $753.6 million compared with $889.4 million in the prior year quarter, a 15.3% decrease. The sales decrease was attributable primarily to lower sales volumes (9.8%), lower cost of metals passed through to customers (4.8%), and unfavorable currency translation (4.1%), partly offset by price increases (3.4%). Sales were down 22.2% in North America, 12.8% in Europe, and 12.9% in Asia and up 1.0% in Latin America.

* Gross profit percentage for the third quarter was 34.8% compared with 29.1% in the prior year quarter and 33.8% in the second quarter of 2009. The improvement in gross profit percentage is attributable to price increases implemented primarily in the second half of 2008, a decrease in raw materials and energy costs since their peak in the fourth quarter of 2008, and lower factory overhead expenses re...

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