Oklahoma City-LSB Industries Inc. saw a surge in earnings and sales in the third quarter ending Sept. 30, 2006. However, they came from the company’s climate control business, not chemicals. Chemical sales were off slightly, with this attributable to agricultural sales. Most of the shortfall was offset by industrial chemical sales, which provide better margins and predictability, according to LSB. Third-quarter chemical operating income was down, at $2.2 million on sales of $60.8 million, compared to the year-ago $2.5 million and $62.2 million, respectively. Nine-month results remain ahead of last year at $8.8 million and $201.5 million, versus $6.9 million and $180 million. LSB-wide, third-quarter net income was $3.3 million ($.17 per diluted share) on sales of $123.8 million, compared to the year-ago $1.65 million ($.07 per share) and $105.2 million, respectively. Nine-month net income stands at $12.5 million ($.64 per share) on sales of $367.9 million, versus the year-ago $5.1 million ($.23 per share) and $301.4 million, respectively.
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