Nalco struggling - 4th quarter very poor

Nalco announced its 2008 year end results with the rhetoric not joined up with the reality of the financial figures.  The devil is in the detail, so to say.

The news for Paper Services was not great.  Revenues declined by 2.3% (organic) with the 4th quarter very poor and forcing Nalco to write off goodwill in this segment.  Only Latin America showed any spark.  In management speak, 'Nominally, direct contribution dollars declined 23.5% to $93 million, with direct contribution margins falling from 15.7% in 2007 to 12% in 2008'.  When will companies learn to write in plain english!  We know you had a very bad result, we can look at the numbers - say it in simple english!!