NEWS
Huntsman Releases 2009 Fourth Quarter and Full Year Results

Fourth Quarter 2009 Highlights 

• Revenues for the fourth quarter of 2009 were $2,096 million, an increase of 2% compared to $2,048 million for the same period in 2008 and a decrease of 1% compared to $2,108 million for the third quarter of 2009.

• Volumes for the fourth quarter of 2009 increased 13% compared to the same period in 2008 and decreased 7% compared to the third quarter of 2009 consistent with historical seasonal patterns.

• Adjusted EBITDA for the fourth quarter of 2009 was $165 million compared to $51 million for the same period in 2008 and $200 million for the third quarter of 2009.

• Net income attributable to Huntsman Corporation for the fourth quarter of 2009 was $66 million or $0.26 per diluted share, impacted by favorable year end accounting for taxes of approximately $79 million.  This compares to net income attributable to Huntsman Corporation of $598 million or $2.53 per diluted share for the same period in 2008 and a net loss attributable to Huntsman Corporation of $68 million or $0.29 loss per diluted share for the third quarter of 2009.

• Adjusted net income for the fourth quarter of 2009 was $70 million or $0.27 per diluted share, impacted by favorable year end accounting for taxes of approximately $79 million.  This compares to an adjusted net loss of $91 million or $0.38 loss per diluted share for the same period in 2008 and an adjusted net loss of $55 million or $0.24 loss per diluted share for the third quarter of 2009.

Full Year 2009 Highlights 

• Revenues for 2009 were $7,763 million compared to $10,215 million for 2008.
 
• Adjusted EBITDA for 2009 was $511 million compared to $643 million for 2008.

• Net income attributable to Huntsman Corporation for 2009 was $114 million or $0.48 per diluted share compared to $609 million or $2.60 per diluted share for 2008.

•&n bsp;Adjusted net loss for 2009 was $323 million or $1.38 loss per diluted share compared to adjusted net loss of $57 million or $0.24 loss per diluted share for 2008.

• Total cash and unused borrowing capacity as of December 31, 2009 was approximately $2.5 billion.

Click here to view the press release in its entirety (PDF, 74Kb)


 


 
 
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