Strong U.S. and international sales increased Ecolab's fourth-quarter earnings by 30 percent to $113.4 million, or 45 cents a share.
The results included $11 million in gains from the sale of businesses in the United Kingdom and United States and a $300,000 corporate benefit associated with a business system investment.
Excluding one-time items, profit for the St. Paul-based firm was 40 cents a share, in line with analysts' expectations. Total sales rose 13 percent to $1.44 billion, $6 million above expectations.
"We enjoyed strong growth in our U.S. and Latin America regions" and improved sales in Asia, said CEO Doug Baker.
He added that Ecolab's U.S. cleaning and sanitizing segment "realized very good margin development that drove the quarter's profit improvement and more than offset our business investments elsewhere."
That division's fourth-quarter sales rose 11 percent to $589 million, while operating income jumped 29 percent to $83 million. International sales rose 5 percent to $665 million, after adjusting for currency rates, while operating income fell 1 percent to $73 million because of efficiency investments in Asia and higher European product delivery costs. Foreign currency translation added about $7 million to net income growth.
Sales of pest elimination and other U.S. services increased 10 percent, but earnings fell 5 percent because of new systems costs and a charge associated with ending an unprofitable customer contract.
For the full year, Ecolab reported a 12 percent jump in sales to $5.47 billion and a 16 percent rise in net income to $427 million, or $1.70 a share, 4 cents better than analysts expected.
