Calgon Carbon 8-K Calgon Carbon Announces Second Quarter Results

Exhibit 99.1

  P. O. BOX 717     PITTSBURGH, PA   15230-0717     (412) 787-6700

CALGON CARBON ANNOUNCES SECOND QUARTER RESULTS

PITTSBURGH, PA – August 5, 2009 – Calgon Carbon Corporation (NYSE: CCC) announced results for the second quarter ended June 30, 2009.

The company reported net income of $6.1 million for the second quarter of 2009, as compared to net income of $12.7 million for the second quarter of 2008.  Net income for the second quarter of 2008 consisted of income from continuing operations of $9.3 million and income from discontinued operations of $3.4 million, which represents the final adjustment to the sale price of the company’s charcoal business that was sold in the first quarter of 2006.  On a fully diluted basis, net income per common share for the second quarter of 2009 was $0.11, as compared to $0.24 for the second quarter of 2008, which consisted of $0.18 from continuing operations and $0.06 from discontinued operations.

Income from operations for the second quarter of 2009 was $10.2 million, versus $16.1 million for the comparable period in 2008.

Net sales for the second quarter of 2009 were $103.1 million, a 5.0% decline as compared to record quarterly sales of $108.5 million for the second quarter of 2008.  The decline was attributable to the comparably strong U.S. dollar, which resulted in a $6.0-million negative impact on sales from currency translation, and lower demand for certain activated carbon and service products due to the global economic slowdown.  Markets that were appreciably affected by the decline in demand included: potable water, environmental water treatment, industrial processes, and food.  The sales decline was partially offset by favorable pricing in certain markets.

In the second quarter of 2009, equipment sales increased 5.4% versus the comparable period in 2008 due to higher revenue from ultraviolet systems.  Consumer sales were comparable to the second quarter of 2008.

Net sales less the cost of products sold as a percentage of net sales for the second quarter of 2009 was 31.8% versus 34.5% for the second quarter of 2008.  The decline was primarily due to a shift in sales mix, as well as increased plant and maintenance costs which were partially offset by favorable pricing for equipment and certain activated carbon and service products.

Selling, administrative and research expenses for the second quarter of 2009 increased 8.6% versus the second quarter of 2008, principally due to higher employee-related costs, primarily pension expense, and an increase in bad debt expense.

Interest expense was $0.1 million for the second quarter of 2009 as compared to $1.6 million for the comparable period of 2008.  The change is due to the lower amount of debt outstanding during the second quarter of 2009 as a result of the company redeeming $69.0 million of its 5% Senior Convertible Notes in the second half of 2008.

In the second quarter of 2009, other expense was $1.5 million as compared to $0.5 million for the second quarter of 2008.  Financing fees of $0.8 million related to the company’s former credit facility were written-off.

Calgon Carbon’s board of directors did not declare a quarterly dividend.

Net income for the six months ended June 30, 2009 was $12.1 million versus $23.1 million for the comparable period of 2008.  Net income for the first half of 2008 included a non-recurring after-tax gain of $5.7 million, or $0.11 per common share from the settlement of a lawsuit and a non-recurring after-tax gain of $3.4 million related to the sale of the company’s charcoal business.  Fully diluted net income per common share for the first half of 2009 was $0.21, all from continuing operations.  Fully diluted net income per common share for the first half of 2008 was $0.45, which consisted of $0.38 from continuing operations and $0.07 from discontinued operations.

Income from operations for the six months ended June 30, 2009 was $19.1 million as compared to income from operations of $33.7 million for the first half of 2008.  This included the $9.3 million non-recurring gain ($5.7 million after tax) mentioned above.

Commenting on the results, John Stanik, Calgon Carbon’s chairman, president and chief executive officer, said, “Revenue was impressive, particularly since there was a significant decline in volume during the quarter.  In fact, excluding the negative impact of foreign exchange translation, sales for the second quarter of 2009 slightly exceeded the quarterly sales record achieved in the second quarter of 2008.”

“Since volume was down in the second quarter, we took the opportunity to address needs at our plants that were created by last year’s intense demand for our activated carbon products.  The costs associated with these maintenance efforts had a significant negative effect on margins in the second quarter.  However, when the work is completed, we will be extremely well positioned to take advantage of increased demand when the economic recovery occurs.”

Calgon Carbon Corporation, headquartered in Pittsburgh, Pennsylvania, is a global leader in services and solutions for making water and air safer and cleaner.

This news release contains historical information and forward-looking statements. Forward-looking statements typically contain words such as “expect,” “believe,” “estimate,” “anticipate,” or similar words indicating that future outcomes are uncertain.  Statements looking forward in time, including statements regarding future growth and profitability, price increases, cost savings, broader product lines, enhanced competitive posture and acquisitions, are included in the company’s most recent Annual Report  pursuant to the “safe harbor” provision of the Private Securities Litigation Reform Act of 1995. They involve known and unknown risks and uncertainties that may cause the company’s actual results in future periods to be materially different from any future performance suggested herein. Further, the company operates in an industry sector where securities values may be volatile and may be influenced by economic and other factors beyond the company’s control. Some of the factors that could affect future performance of the company are higher energy and raw material costs, costs of imports and related tariffs, labor relations, capital and environmental requirements, changes in foreign currency exchange rates, borrowing restrictions, validity of patents and other intellectual property, and pension costs.  In the context of the forward-looking information provided in this news release, please refer to the discussions of risk factors and other information detailed in, as well as the other information contained in the company’s most recent Annual Report.

Calgon Carbon Corporation

Condensed Consolidated Statement of Income

(Dollars in thousands except per share data)

(Unaudited)

	Quarter Ended						Six Months Ended
	June 30,						June 30,
	2009				2008*		2009				2008*
Net Sales	$	103,090		$	108,476		$	193,723		$	198,807
Cost of Products Sold		70,319			71,021			131,533			132,786
Depreciation and Amortization		3,972			4,199			7,748			8,125
Selling, Administrative & Research		18,626			17,154			35,333			33,445
Gain from AST Settlement		-			-			-			(9,250	)
		92,917			92,374			174,614			165,106
Income from Operations		10,173			16,102			19,109			33,701
Interest Expense - Net		(109	)		(1,644	)		(3	)		(3,299	)
Other Expense - Net		(1,500	)		(480	)		(1,928	)		(570	)
Income From Continuing Operations Before Income Tax and		8,564			13,978			17,178			29,832
Equity in Income (Loss) from Equity Investments
Income Tax Provision		2,893			4,555			5,974			10,474
Income  from Continuing Operations Before Equity in
Income (Loss) from Equity Investments		5,671			9,423			11,204			19,358
Equity in Income (Loss) from Equity Investments		427			(139	)		868			299
Income from Continuing Operations		6,098			9,284			12,072			19,657
Income from Discontinued Operations		-			3,447			-			3,447
Net Income	$	6,098		$	12,731		$	12,072		$	23,104
Net Income per Common Share
Basic:
Income from Continuing Operations	$	.11		$	.23		$	.22		$	.49
Income from Discontinued Operations	$	-		$	.09		$	-		$	.08
Total	$	.11		$	.32		$	.22		$	.57
Diluted:
Income from Continuing Operations	$	.11		$	.18		$	.21		$	.38
Income from Discontinued Operations	$	-		$	.06		$	-		$	.07
Total	$	.11		$	.24		$	.21		$	.45
Weighted Average Shares
Outstanding (Thousands)
Basic		54,331			40,559			54,225			40,400
Diluted		56,285			52,025			56,183			51,891

* Results have been retrospectively adjusted to incorporate the adoption of FASB Staff Position APB 14-1,

 “Accounting for Convertible Debt Instruments That May Be Settled in Cash upon Conversion (Including Partial

Cash Settlement)” .

Calgon Carbon Corporation

Segment Data:

Segment Sales		2Q09			2Q08	YTD 2009			YTD 2008
Activated Carbon and Service		89,383			95,284		167,146			172,182
Equipment		11,327			10,742		22,226			20,439
Consumer		2,380			2,450		4,351			6,186
Total Sales (thousands)	$	103,090		$	108,476	$	193,723		$	198,807
Segment
Operating Income (loss)*		2Q09			2Q08	YTD 2009			YTD 2008
Activated Carbon and Service		13,200			19,766		25,082			37,142
Equipment		962			519		1,937			3,962
Consumer		(17	)		16		(162	)		722
Income from Operations (thousands)	$	14,145		$	20,301	$	26,857		$	41,826

*Before depreciation and amortization.  The YTD 2008 period includes the $9.3 million gain on AST settlement

($5.3 million Activated Carbon and Service and $4.0 million Equipment).

Calgon Carbon Corporation

Condensed Consolidated Balance Sheet

(Dollars in thousands)

(Unaudited)

	June 30,		December 31,
	2009			2008*
ASSETS
Current assets:
Cash and cash equivalents	$	7,501	$	16,750
Restricted cash		11,019		-
Receivables		65,548		64,515
Inventories		94,441		93,725
Other current assets		23,292		25,598
Total current assets		201,801		200,588
Property, plant and equipment, net		143,774		122,960
Other assets		59,781		63,714
Total assets	$	405,356	$	387,262
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Short-term debt	$	-	$	1,605
Current portion of long-term debt		5,163		7,903
Other current liabilities		54,577		56,036
Total current liabilities		59,740		65,544
Long-term debt		7,600		-
Other liabilities		69,683		68,441
Total liabilities		137,023		133,985
Total shareholders' equity		268,333		253,277
Total liabilities and shareholders' equity	$	405,356	$	387,262

* Results have been restrospectively adjusted to incorporate the adoption of FASB Staff Position

APB 14-1,  “Accounting for Convertible Debt Instruments That May Be Settled in Cash upon

Conversion (Including Partial Cash Settlement)” ..