Earns Highest Adjusted EBITDA In History*
Third Quarter 2011 Highlights
• Revenues improved 24% compared to the prior year period.
• Adjusted EBITDA improved 26% to $345 million compared to the prior year period.
• Adjusted diluted income per share improved 32% to $0.45 compared to the prior year period.
• A higher than normal adjusted effective tax rate of 38% had a negative impact of approximately $0.08
per diluted share.
• Negative foreign currency impact on earnings in our Advanced Materials and Textile Effects businesses
of approximately $17 million compared to the prior year primarily due to the strong Swiss franc.
• We announced restructuring plans within our Advanced Materials and Textile Effects businesses. We
recorded $155 million of restructuring charges during the third quarter of 2011 consisting of $102 million
of cash charges and $53 million of non-cash impairment of assets. We expect additional future cash
charges of approximately $35 million. We expect future annual benefits of approximately $90 million.
Read the full release here (PDF, 115KB.)
* Excluding the Base Chemicals and Polymers businesses divested in 2006 and 2007