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What: Shares of Cytec Industries (NYSE: CYT) were sighted 12% higher today after strong fourth-quarter and full-year results, released after the bell yesterday.

So what: It was just one quarter ago we were talking about a 12% drop for Cytec after its earnings report. But this is a brighter day, with earnings per share for the specialty chemicals maker jumping from $0.20 to $0.95 in the fourth quarter, and revenue climbing 8%.

Now what: On the conference call, CEO Shane Fleming attributed the results to "the improved demand environment, our lower cost structure, and excellent execution of our plans and key initiatives." He expects 2011 to show continued improvement, albeit on a more "slow and steady pace."

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Fool analyst Rex Moore owns no companies mentioned here. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.