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Solutia Reports Third Quarter 2009 Results
Date:10/26/2009

ST. LOUIS, Oct. 26 /PRNewswire-FirstCall/ --

2009 Third Quarter Highlights

  • Net sales of $448 million, a sequential improvement over second quarter 2009 of 9 percent
  • Basic and diluted earnings per share from continuing operations of $0.24; Adjusted earnings per share of $0.37
  • Adjusted EBITDA of $119 million, a sequential improvement over second quarter 2009 of 24 percent and a year-over-year improvement of 7 percent; Adjusted EBITDA margins of 27 percent compared to 19 percent in the year ago period
  • Increased Adjusted EBITDA guidance to a range of $350 million to $365 million, up from previously stated target of $340 million to $360 million

Note: See reconciliation tables below for adjustments made to GAAP and discussion of items affecting results.

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"Solutia's record quarterly earnings and margins in the third quarter were attributable to an underlying improvement in sales volumes and aggressive cost reduction actions taken early in the global recession," said Jeffry N. Quinn, chairman, president and chief executive officer of Solutia Inc. "We have now raised the full-year range of Adjusted EBITDA outlook to $350 million to $365 million. The high level of commitment of our organization to continue to meet the needs of our customers while aligning our cost structure to current market conditions has yielded strong results. With industry-leading businesses, Solutia is well positioned for profitable growth as global markets continue to recover."

Consolidated Results from Continuing Operations

Solutia Inc. (NYSE: '/>"/>

SOURCE Solutia Inc.
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