Kronos Worldwide saw first-quarter profits more than double as the price of titanium dioxide, used in everything from paint to sunscreen, jumped 34 percent and volumes rose.

The company, which produces earned $136.9 million, or $1.18 per share, for the quarter that ended March 31. That＇s up from $60.3 million, or 52 cents per share, during the same period last year. Revenue, like the price of the titanium dioxide that Kronos produces and markets, also rose 34 percent to $561.3 million.

Analysts surveyed by FactSet had been expecting a profit of 74 cents per share on revenue of $556.2 million.

The company said it expects 2012 volumes to increase compared to last year.

While the cost of raw materials is expected to increase significantly this year, Kronos said that selling prices and volumes will rise as well.

Adding new production capacity is difficult, so Kronos said it expects the tight supplies and high demand that it has seen since late 2009 to continue for the foreseeable future.

Also Wednesday, Kronos subsidiary Kronos International Inc. said first-quarter net income more than doubled to $89.8 million, from $41.1 million a year ago. Revenue rose 29 percent to $383.9 million because of higher selling prices and volumes.