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Net income for Q3, 2014 was US$4M or US$0.08/diluted share, versus net income from continuing operations of US$27.2M or US$0.53 per diluted share yr-on-yr.
Adjusted diluted earnings/share were US$0.421, down US$0.741 yr-on-yr.
Net revenue was US$526.8M, up 2.4% yr-on-yr. Higher volume and foreign currency translation positively impacted net revenue growth by 2.0 and 1.1% points, respectively. Lower average selling prices negatively impacted net revenue growth by 0.7% points. Organic revenue grew by 1.3%yr-on-yr.
Gross profit margin was down yr-on-yr due to a variety of factors including excess costs associated with the business integration project in Europe and Project ONE in North America and margin pressure in several operating segments related to raw material cost fluctuations.
