WESTCHESTER, Ill.—Corn Products International, Inc. reported its fourth-quarter and full-year results for 2010. For the full year, reported earnings per share (EPS) were up 307 percent to $2.20 from $0.54 in 2009. In the fourth quarter, diluted EPS declined 9 percent to $0.67, compared to $0.74. The decline was due to $0.38 of charges resulting from the acquisition of National Starch. Excluding those charges, adjusted earnings per share rose 42 percent from $0.74 to $1.05 in the fourth quarter.
“We’re pleased to report strong results for the full year, primarily driven by organic volume growth, lower input costs, higher utilization rates and the impact of owning National Starch for the entire fourth quarter," said Ilene Gordon, Chairman, President and Chief Executive Officer. “Our performance reflects the ongoing benefits of executing against our Strategic Blueprint and achieving meaningful cost reductions. Looking ahead, we see substantial opportunities to generate further growth from an improving portfolio particularly in specialty products from National Starch, as well as ongoing geographic expansion."
