Huntsman Releases 2008 Fourth Quarter and Full Year Results - Fourth Quarter Net Income of $598 Million, Available Liquidity of $1.3 Billion
Fourth Quarter 2008 Highlights
- Revenues for the fourth quarter of 2008 were $2,048 million, a decrease of 18% compared to $2,504 million for the fourth quarter of 2007 and a decrease of 25% compared to $2,731 million for the third quarter of 2008.
- Net income for the fourth quarter of 2008 was $598 million or $2.53 per diluted share compared to net income of $2 million or $0.01 per diluted share for the same period in 2007 and compared to net loss of $20 million or $0.09 loss per diluted share for the third quarter of 2008. Adjusted net loss from continuing operations for the fourth quarter of 2008 was $91 million or $0.38 loss per diluted share compared to adjusted net income from continuing operations of $51 million or $0.22 per diluted share for the same period in 2007 and adjusted net loss from continuing operations of $2 million or $0.01 loss per diluted share for the third quarter of 2008.
- Adjusted EBITDA from continuing operations for the fourth quarter of 2008 was $51 million compared to $195 million for the same period in 2007 and compared to $194 million for the third quarter of 2008.
- Revenues for 2008 were $10,215 million, an increase of 6% compared to $9,651 million for 2007.
- Net income for 2008 was $609 million or $2.60 per diluted share compared to net loss of $172 million or $0.74 loss per diluted share for 2007. Adjusted net loss from continuing operations for 2008 was $57 million or $0.24 loss per diluted share compared to adjusted net income from continuing operations of $271 million or $1.16 per diluted share for 2007.
- Adjusted EBITDA from continuing operations for 2008 was $643 million compared to $926 million for 2007.
Read the full release here. (PDF, 154 kb)
Brighton High School
Salt Lake City, Utah
Last year, Jan Vanderhooft donated a kidney to someone he did not even know. When asked why, he replied that he had seen a billboard reading, “Donate a car, donate a kidney.” He said he figured he couldn’t do without his battered old car, so he had better donate the kidney.
Mr. Vanderhooft’s performance as a teacher is described in glowing terms: “Brilliant,” “intense,” “dazzling.” He is also described as an “interesting character” whose career began as a graduate student in Chemistry. After passing the Ph.D. preliminary exams in two major areas, he discovered that he wanted to teach, and he felt that to teach effectively he really needed to be in a secondary school. Everyone at Brighton High recognizes how fortunate they are that he chose that path.
His success in the classroom can be measured by the enviable record he has established in the Advanced Placement Chemistry Program. All of his AP students take the National Exam, and his students have a 99% passing rate with most scoring “5” on the exam. Only two or three Utah schools come close to his success.
Each summer for more than 20 years, Mr. Vanderhooft has been an integral part of the University of Utah outreach programs for students and high school chemistry teachers. What is especially stimulating is to watch Mr. Vanderhooft in the classroom and the labs with his group of students. During every lab, he interacts with each student, one on one. He has mastered the technique of asking a question followed by other questions which lead the student the answer to the original question.
Jan Vanderhooft is also a teacher of teachers.
He has taken under his wing many new teachers and has taught in-service classes for the Jordan District chemistry teachers involving lecture demonstrations. He is always excited to help other teachers understand particular chemical concepts and relay them in a way that is understandable to their students. He enjoys sharing his teaching materials and regards it as a compliment when others ask for his help developing effective labs and demonstrations.
His students believe there is no finer science teacher. He is a teacher who changes lives: an exceptional communicator, a gifted educator, and a highly dedicated professional who knows how to motivate and inspire his students and fellow teachers. Parents are convinced that the Brighton community is indebted to him for the countless students he influences and sends on to greater endeavors, equipped with scientific curiosity.
For being the teacher that every teacher would like to be, he deserves one of this year’s Huntsman Awards for Excellence in Education.