Multinational carbon materials developer, GrafTech International Ltd yesterday announced its second quarter results, which showed a slight decline in sales but an overall increase in income.
The company, based in Ohio, US, said that net sales had declined by 1% to $316m from $320m in Q2 2011. It attributed this trend to the downturn in the global steel industry, the principal market for graphite electrodes.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 11% to $67m from $60m a year ago, and income increased 10% to $32m up from $29m for the same period.
Net income was...