OM Group Expects Q2 Sales $328M-$332M vs $320M Est; EPS $0.78-$0.82 vs $0.77 Est

OM Group, Inc. OMG today announced preliminary financial results for the second quarter ended June 30, 2011. The company anticipates the previously announced acquisition of Vacuumschmelze GmbH & Co. KG, to close in August, subject to satisfaction of customary closing conditions, and is providing preliminary financial results in connection with the closing and financing of the acquisition. OMG expects net sales in the second quarter to be between $328.0 million and $332.0 million; operating profit between $26.0 million and $30.0 million; depreciation and amortization between $13.0 million and $14.0 million; net income attributable to OM Group, Inc. common shareholders between $0.78 and $0.82 per diluted share; and cash balance between $451.0 million and $453.0 million. Excluding a discrete tax benefit of $2.0 million, the effective income tax rate for the second quarter of 2011 is expected to be approximately 9% to 10%.