Higher prices drove revenues up in the third quarter, but earnings at North American specialty chemical makers were mixed as some producers saw declines due to lower volumes and margins.Ashland reported a $363 million loss for the quarter ended September 30, compared with a loss of $141 million in the year ago quarter. The current 2011 quarter includes $353 million in aftertax charges, including a $275 million noncash charge related to pension losses. Sales grew 8%, to $1.6 billion. Adjusted operating income rose 10%, to $116 million, Ashland says. Reported adjusted earnings were $1.01/ share for the quarter, up 20% over the prior year, and 9% above the midpoint of analyst estimates as reported by Thomson Reuters (New York).
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