NEWS
Huntsman Releases First Quarter 2010 Results

EARNINGS MORE THAN DOUBLE PRIOR YEAR DESPITE THE NEGATIVE IMPACT OF APPROXIMATELY $51 MILLION IN PRODUCTION DISRUPTIONS           

First Quarter 2010 Highlights 

  • Revenues for the first quarter of 2010 were $2,094 million, an increase of 25% compared to $1,680 million for the same period in 2009 and an increase of 1% compared to $2,065 million for the fourth quarter of 2009.
  • Adjusted EBITDA for the first quarter of 2010 was $123 million compared to $57 million for the same period in 2009 and $174 million for the fourth quarter of 2009 (adjusted to account for the reclassification of results from our Australian styrenics business into discontinued operations).
  • Net loss attributable to Huntsman Corporation for the first quarter of 2010 was $172 million or $0.73 loss per diluted share, including charges related to the early extinguishment of debt of $155 million.  This compares to net loss attributable to Huntsman Corporation of $290 million or $1.24 loss per diluted share for the same period in 2009 and net income attributable to Huntsman Corporation of $66 million or $0.26 per diluted share for the fourth quarter of 2009 which was impacted favorably by year end accounting for taxes of approximately $79 million.
  • Adjusted net loss for the first quarter of 2010 was $16 million or $0.07 loss per diluted share.  This compares to an adjusted net loss of $267 million or $1.14 loss per diluted share for the same period in 2009 and adjusted net income of $79 million or $0.31 per diluted share for the fourth quarter of 2009 which was impacted favorably by year end accounting for taxes of approximately $79 million.

Read the full release here. (PDF, 145  kb)


 
 
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