Business & Tech

Bullets Mean Big Sales for Olin

Joseph D. Rupp, Chairman, President, and Chief Executive Officer said Olin has seen higher-than-normal demand for its bullets since the end of 2012.

Strong demand for its Winchester ammunition helped boost sales at Olin Corp. in the second quarter, while the company's overall profits fell due to lower demand for its bleach and chlorine products.

That's according to a recent the second quarter earnings statement the company posted. The Clayton-based company said sales were up 28 percent, to $652 million. Profits, however, fell 8 percent to $43.7 million, or 54 cents a share. That is from $47.6 million, or 59 cents a share, a year ago.

In that report, Joseph D. Rupp, Chairman, President, and Chief Executive Officer said Olin has seen higher-than-normal demand for its bullets since the end of 2012. He said the second quarter was Winchester's most profitable quarter on record. Still, lower prices for hydrocholoric acid and higher electricity costs hurt the Chlor Alkali segment, which is the nation's leading supplier of bleach and chlorine to industrial clients.

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The company projects stronger chemical sales in the third quarter for 2013. This is attributed record levels of bleach sales, and an approximately $10 million favorable customer contract settlement.

The company also said it will issue a 20-cents-per-share dividend.

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