Nalco Holding Company (NYSE:NLC) second quarter 2007 sales and earnings growth continued on pace with the Company's full-year expectations. Compared to the prior-year period, second quarter revenues increased 9.0 percent to $970.9 million and net income nearly doubled to $41.8 million.
Adjusted EBITDA gained 12.4 percent in the quarter to $179.9 million, bringing year-to-date Adjusted EBITDA growth above the 10 percent threshold established as the Company's full-year growth expectation. Adjusted EBITDA is used to determine compliance with the Company's debt covenants.
"We had a number of strong business performances in the quarter along with a few ongoing challenges. On balance, we are headed in the right direction to meet our expectations for the year," noted Chairman and Chief Executive Officer Dr. William H. Joyce. "As always, however, I would caution against over-optimism."
