Navigation Links
Solutia Reports First Quarter 2009 Results
Date:5/6/2009

ntinuing operations loss of $5 million in the first quarter of 2009 decreased from income of $24 million in the first quarter of last year. This decline was primarily due to the weakened demand profile, higher depreciation and amortization due to fresh-start accounting, and higher stock compensation expense partially offset by income tax benefits. For the quarter, Solutia posted a diluted loss per share from continuing operations of $.04 and as adjusted a loss per share of $.05.

Consolidated EBITDA from continuing operations for the first quarter decreased to $51 million from $73 million in the first quarter of 2008 on net sales of $339 million and $517 million, respectively. After taking into consideration adjustments (as detailed below in the consolidated and segment sales, EBITDA and Adjusted EBITDA table), Adjusted EBITDA decreased to $56 million from $95 million.

"Demand in the first quarter was negatively impacted by the difficult macro-economic conditions affecting the global markets. However, we were able to greatly offset the impact of these conditions through the decisive actions we began to implement in the fourth quarter of last year to reduce our operating costs, working capital levels and capital expenditures. In total, our efforts resulted in an improvement in our liquidity over the course of the first quarter," said Jeffry N. Quinn, chairman, president and chief executive officer of Solutia Inc. "While we expect continued softness in demand throughout 2009, we do expect modest volume improvement in comparison to our first quarter levels. Further, we have taken actions to further reduce costs over the remainder of the year."

Quinn added, "We also are pleased to have closed the $74 million term loan facility at one of our German subsidiaries and we continue to work toward the closure of the sale of our nylon business within the second quarter. These actions will improve our strategic positioni
'/>"/>

SOURCE Solutia Inc.
Copyright©2009 PR Newswire.
All rights reserved

Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21

Related biology technology :

1. Solutia to Present at Deutsche Bank Small and Mid Cap Conference
2. EpiCept Reports Expansion of Clinical Development For Licensed Cancer Compound
3. QMed, Inc. Reports July Medicare SNP Enrollments
4. Phlo Affiliate Reports Expanded Coverage to Oregon Border
5. Healthcare Technologies Reports Loss for 2007 Second Quarter & Six Months Results
6. Dragon Pharmaceutical Reports Growth in Sales and Profits during Second Quarter of 2007
7. Carrington Reports Second Quarter 2007 Results
8. Avitar Reports Third Quarter Financial Results for Fiscal 2007
9. Response Genetics Reports Second Quarter 2007 Financial Results
10. Cadence Pharmaceuticals Reports Second Quarter 2007 Financial Results
11. Transgenomic, Inc. Reports Second Quarter 2007 Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/15/2014)... AudioNotch is the internet's leading provider of Notched Sound ... Patients listen to sound therapy that is tailor-made for ... to months, their tinnitus volume decreases. , AudioNotch has previously ... Notched White Noise. Now, AudioNotch is pleased to announce to ...
(Date:1/14/2014)... a leading provider of strategic communications services to corporations and organizations ... the United States and Europe ... is returning to the firm,s Washington, D.C. ... than two years of service as Associate Commissioner for the Office ...
(Date:1/14/2014)... Boston, MA (PRWEB) January 14, 2014 iLab ... Michelle Detwiler as the new Director of Product Strategy. In ... as well as iLab sub-teams to guide in the development ... that iLab provides the maximum possible benefit to the scientific ...
(Date:1/14/2014)... (PRWEB) January 13, 2014 Bob Hainsey, ... more than 20 years in the industry, has joined ... . Hainsey will serve as the society’s Science and ... Hainsey join SPIE as our Technology Strategist, further strengthening ...
Breaking Biology Technology:Former FDA Associate Commissioner Returns To 3D Communications 2iLab Solutions Announces Michelle Detwiler as the New Director of Product Strategy 2Photonics R&D Leader Bob Hainsey Joins SPIE Technical Staff 2
... , , ... /PRNewswire-FirstCall/ - Quest PharmaTech Inc. (TSX-V: QPT) ("Quest" or the ... of cancer, today announced the dosing of the first patient under ... Therapy in prostate cancer patients. The study will evaluate the localization, ...
... 11 Allscripts (Nasdaq: MDRX ) announced today ... centers of the mid-South and the flagship of Vanderbilt University Medical ... ensure continuity of care and improve the efficiency of the hospital patient ... , (Logo: ...
... --, -- Revenue increased 26.4% to $26.1 million, ... than 200 basis points to 10.3%; Adjusted diluted EPS increased ... -- Sales of PurCotton(R) products increased 71.1% to $1.9 Million, ... the first six months in fiscal year 2009, ...
Cached Biology Technology:Quest PharmaTech Announces Dosing Of First Patient In Its Prostate Cancer Clinical Trial 2Quest PharmaTech Announces Dosing Of First Patient In Its Prostate Cancer Clinical Trial 3Vanderbilt University Hospital Selects Allscripts Care Management 2Vanderbilt University Hospital Selects Allscripts Care Management 3Vanderbilt University Hospital Selects Allscripts Care Management 4Vanderbilt University Hospital Selects Allscripts Care Management 5Vanderbilt University Hospital Selects Allscripts Care Management 6Winner Medical Reports Second Quarter Results for the Fiscal Year 2010 2Winner Medical Reports Second Quarter Results for the Fiscal Year 2010 3Winner Medical Reports Second Quarter Results for the Fiscal Year 2010 4Winner Medical Reports Second Quarter Results for the Fiscal Year 2010 5Winner Medical Reports Second Quarter Results for the Fiscal Year 2010 6Winner Medical Reports Second Quarter Results for the Fiscal Year 2010 7Winner Medical Reports Second Quarter Results for the Fiscal Year 2010 8Winner Medical Reports Second Quarter Results for the Fiscal Year 2010 9Winner Medical Reports Second Quarter Results for the Fiscal Year 2010 10Winner Medical Reports Second Quarter Results for the Fiscal Year 2010 11Winner Medical Reports Second Quarter Results for the Fiscal Year 2010 12Winner Medical Reports Second Quarter Results for the Fiscal Year 2010 13Winner Medical Reports Second Quarter Results for the Fiscal Year 2010 14Winner Medical Reports Second Quarter Results for the Fiscal Year 2010 15Winner Medical Reports Second Quarter Results for the Fiscal Year 2010 16Winner Medical Reports Second Quarter Results for the Fiscal Year 2010 17Winner Medical Reports Second Quarter Results for the Fiscal Year 2010 18Winner Medical Reports Second Quarter Results for the Fiscal Year 2010 19
(Date:4/18/2014)... sprout as soon as they,re planted may be good news ... careful. In the wild, a plant whose seeds sprouted at ... More than just an insurance policy against late frosts or ... long-term advantages too: Plants whose seeds put off sprouting ... finds in a team of researchers working at the National ...
(Date:4/18/2014)... A team of researchers led by a ... selected to receive a $7.5 million Department of Defense ... and basic scientific foundations for the predictable design of ... wide diversity of structures from plants and animals, including ... taking what biological systems have constructed over millions of ...
(Date:4/17/2014)... CHAMPAIGN, Ill. A drug under clinical trials to ... of broad-spectrum drugs that act against various bacteria, fungal ... study by University of Illinois chemists and collaborators. , ... the team determined the different ways the drug SQ109 ... tweaked to target other pathogens from yeast to malaria ...
Breaking Biology News(10 mins):Plants with dormant seeds give rise to more species 2Mantis shrimp, toucan and trilobite, oh my 2Mantis shrimp, toucan and trilobite, oh my 3Multitarget TB drug could treat other diseases, evade resistance 2
... celebrates distinguished government scientist Professor Robert (Bob) Watson who ... Chief Scientific Advisor to the Department of Environment, ... alumnus, Professor Watson is recognised for his contributions to ... and global warming. Professor Peter Heathcote, Head of ...
... A Cardiff University researcher has secured a highly sought-after ... stage. Dr Paola Borri, Cardiff School of Biosciences, is ... interface between life and physical sciences Now, she has ... Leadership Award for the next five years. This will support ...
... at Virginia Tech have constructed a mathematical and computational ... simulate the cellular and molecular changes underlying chronic inflammation ... explore different interactions of cells in the immune system, ... the colon, and identify intervention points to perhaps stop ...
Cached Biology News:Honorary Fellowship awarded to government Chief Scientific Advisor 2Boost for world-leading microscopy project 2Math model of colon inflammation singles out dangerous immune cells 2Math model of colon inflammation singles out dangerous immune cells 3
... SBED Protein:Protein Interaction Reagent A powerful ... rapidly gained traction as an in vitro ... number of publications feature the exclusive Pierce ... study a variety of issues relating to ...
... Incubator is a compact benchtop and ... microprocessor controller with a large display ... agitation speed. Air circulation inside to ... Temperature can be easily calibrated from ...
... fast emerging as a powerful new tool ... now, only amino groups have been able ... such as our Sulfo-SBED. Sulfhydryl-reactive Mts-Atf-Biotin and ... additions to the protein interaction tool chest ...
... MULTI-FUN Incubator is a compact benchtop ... a microprocessor controller with a large ... and agitation speed. Air circulation inside ... incubator. Temperature can be easily calibrated ...
Biology Products: