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

d lower interest income.

Discontinued Operations - Integrated Nylon Segment

As announced previously, Solutia has entered into a definitive agreement to sell its nylon business and results for this business are reported as Discontinued Operations. In the first quarter, income from discontinued operations decreased $345 million to a net loss of $155 million, in comparison to the same period in 2008. The first quarter results for 2009 were negatively impacted by non-cash charges of $101 million, net of tax to adjust the book value of the Nylon business to its estimated fair value as of the March 31, 2009. The first quarter results for 2008 were impacted by reorganization items and certain gains and losses totaling a net gain of $210 million. Despite continued demand pressure in this business, discontinued operations provided cash of $35 million in the first quarter, as a reduction in working capital more than offset the operating losses of the business.

"The nylon sale will complete Solutia's transformation into a pure-play performance materials and specialty chemicals company. Our going-forward portfolio of high-margin businesses with world-leading positions sets the stage for long-term growth and success once economic conditions improve," added Quinn.

Leverage and Liquidity

For the first quarter of 2009, the Company reduced net debt by $50 million to $1,314 million and had liquidity of $163 million. Cash provided by continuing operations before reorganization activities for the quarter was $30 million compared to a use of $36 million for the same period for 2008. The improvement in cash from continuing operations was primarily attributed to improvements in working capital, lower incentive payments and lower funding of pension and other postretirement benefit plans.

"As we stated during our fourth quarter conference call, we are focused on preserving and enhan
'/>"/>

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)... "The interface is the device," Nobel laureate Herbert ... to be found at the junctures where layers ... of nanotechnology, the interfaces between layers of metal ... such high-tech favorites as spintronics, high-temperature superconductors, ferroelectrics ...
(Date:1/15/2014)... 2014   Niagara Thermal Products is proud to ... Technologies LLC ("B3") as the critical thermal component supplier ... the Army Corps of Engineers.  B3 has developed the ... contaminants and destroys VOCs and other chemical pollutants, allergens ...
(Date:1/15/2014)... and SAN JOSE, California , January 15, ... developing antibody-drug conjugates for cancer, today announced the appointment of ... Dr Reynolds has over 20 years, development experience gained in ... Seattle Genetics. "I am delighted to welcome Tom ...
(Date:1/15/2014)... , January 15, 2014 A study has ... on the Formula 1 track could help to tackle the ... Technologies (MAT), Stowhealth (a GP surgery based in Stowmarket) and ... provider Simplyhealth. Telemetry technology, which is inspired by ...
Breaking Biology Technology:A deeper look at interfaces 2Niagara Thermal Products LLC Selected as Critical Supplier for Buffalo BioBlower Air Purification Systems 2Oxford BioTherapeutics Appoints Thomas C Reynolds MD, PhD to its Board of Directors 2Oxford BioTherapeutics Appoints Thomas C Reynolds MD, PhD to its Board of Directors 3Formula 1 Technology Tackles Obesity in Unique Healthcare Partnership 2Formula 1 Technology Tackles Obesity in Unique Healthcare Partnership 3Formula 1 Technology Tackles Obesity in Unique Healthcare Partnership 4
... Researchers have completed the first thorough, system-level assessment ... of microbes known as Shewanella. Microbes belonging to ... and cleaning up contaminated areas in the environment. ... Institute of Technology, Michigan State University and the ...
... ... , ... The Honolulu-based Pacific Health Research Institute (PHRI) has received $2.8 million in research funding ... a major lung cancer screening study in Hawaii, for two more years. , , , ...
... , , BOTHELL, Wash., ... a leading developer, manufacturer, and marketer of biopreservation tools for ... BloodStor biopreservation media product platform. The product family includes ... as well as other variants for peripheral blood derived stem ...
Cached Biology Technology:Hidden diversity in key environmental cleanup microbes found by systems biology assessment 2Hidden diversity in key environmental cleanup microbes found by systems biology assessment 3Pacific Health Research Institute Awarded $2.8 Million in Research Funding 2Pacific Health Research Institute Awarded $2.8 Million in Research Funding 3BloodStor(TM) Stem Cell Biopreservation Media Platform Launched by BioLife Solutions 2BloodStor(TM) Stem Cell Biopreservation Media Platform Launched by BioLife Solutions 3
(Date:4/17/2014)... such as heart disease, epilepsy and pain, making them ... is still much scientists do not know about the ... into the structure of sodium channels and, specifically, one ... responsible for ,fine-tuning, the activity of the channel. The ... the Journal of Biological Chemistry . , Nerves ...
(Date:4/17/2014)... journal Current Biology on April 17 have ... The Brazilian insects, which represent four distinct but related ... first example of an animal with sex-reversed genitalia. ... different animals, Neotrogla is the only example ... Kazunori Yoshizawa from Hokkaido University in Japan. , During ...
(Date:4/17/2014)... process whereby the genetic information of DNA is ... which have numerous different functions in living organisms. ... during gene expression, by relating the genetic information ... manufacturing proteins. , By examining the different ... an organism at a given time, researchers can ...
Breaking Biology News(10 mins):Structure of sodium channels different than previously believed 2In sex-reversed cave insects, females have the penises 2Rapid and accurate mRNA detection in plant tissues 2
... the quality of life of human beings, and society ... Onaindia, biologist and person responsible for the Forest Ecology ... the Basque Country (UPV/EHU). This group has been investigating ... the Basque Country (CAV-EAE) for twenty years now. In ...
... the oceans as a result of increasing levels ... on marine ecosystems, according to Michael Maguire presenting ... in Edinburgh this week. Postgraduate researcher Mr ... experiments in which they simulated ocean acidification as ...
... Tiny chemical sensors implanted into patients could help diagnose disease ... Researchers have developed tiny probes comprising gold-coated particles. These can ... monitored remotely using light from a laser. Once ... to it is absorbed then re-emitted, causing nearby proteins in ...
Cached Biology News:The forests of the Basque Country are progressing -- slowly, according to research group 2The forests of the Basque Country are progressing -- slowly, according to research group 3
This depletion cocktail is tailored to deplete IgE-bearing (I.e. basophils and mast cells) from whole blood...
... of DNA from agarose gels The SpinPrep Gel ... 150 bp to > 12,000 bp in size from ... the gel slice, followed by adsorption of the DNA ... After a wash step, the purified DNA is eluted ...
This kit is designed to select cells labeled with fluorescein isothiocyanate- (FITC-) conjugated antibodies. Kit includes reagents for labeling 3 x 10 9 cells and EasySep magnet....
... microscope is described by end-users to be ... the fundamentals of light microscopy and electronic ... footprint, it does not require much space ... busy lab environment. The DM-BA300 combines Motic's ...
Biology Products: