TEL AVIV (MarketWatch) -- Royal DSM, (OTC:RDSMY) (OTC:KDSKF) (AMS:NL:DSM) the Heerlen, Netherlands, life-sciences and materials-sciences company, reported third-quarter net income more than doubled on 5% higher sales. Net income reached 171 million euros ($236.2 million), or €1 a share, from €79 million, or €0.46, in the year-earlier quarter. Profit from continuing operations before special items rose 38% to €0.94 a share from €0.68. Sales rose to €2.32 billion from €2.21 billion. The improvement came despite "a very strong Swiss franc and a weak U.S. dollar," DSM said in a statement. Feike Sijbesma, chairman of the management board and chief executive, warned that in the third quarter, DSM saw weaker electronics-and-electrical and building-and-construction markets. But he said the company's portfolio is relatively resilient and geographically diverse, and the balance sheet is "solid."
Nov. 1, 2011, 3:44 a.m. EDT