Home / Knowledge / News / Textiles / Solutia reports Q4 & full year 2009 results
Solutia reports Q4 & full year 2009 results
Feb '10
“We ended the year strong, with revenue in the fourth quarter improving to the highest quarterly level of 2009, as end-market demand recovery more than offset the historic seasonality of our businesses,” said Jeffry N. Quinn, chairman, president and chief executive officer of Solutia Inc. “The alignment of our growth strategy, our cost structure, and our strong incremental margins across the portfolio allowed us to respond to market needs and demonstrate the sustainability of our recent robust level of earnings. Adjusted EBITDA in the quarter approached the record 2009 third quarter and gave us clear momentum as we entered the new year.”

Fourth Quarter Highlights

• Net sales increased 10% to $470 million from $429 million over the same period last year
• Basic and diluted earnings per share from continuing operations of $.06; Adjusted earnings per share of $.43
• Adjusted EBITDA increased 60% to $115 million from $72 million over the same period last year

Full Year Highlights

• Net sales decreased 21% to $1,667 million from $2,110 million in 2008
• Basic and diluted earnings per share from continuing operations of $.53; Adjusted earnings per share of $1.15
• Adjusted EBITDA decreased 2% to $386 million from $392 million in 2008; however exceeded the high-end of guidance of $365 million
• Strong cash flow generation and liquidity; exceeded expectations - cash provided by continuing operations less capital expenditures of $155 million and year-end liquidity of $363 million

Fourth Quarter 2009: Consolidated Results from Continuing Operations

Solutia Inc. reported income from continuing operations attributable to Solutia of $7 million for the fourth quarter 2009 compared to a loss of $19 million for the same period in 2008. These results were impacted by certain events affecting comparability (detailed below) totaling a net loss of $45 million in 2009 and $28 million in 2008.

As described further in the table below, the 2009 events were primarily related to the write-off of unamortized debt issuance costs associated with the fourth quarter $300 million term loan pay-down and restructuring charges related to ongoing cost reduction activities. After adjusting for these items, income from continuing operations attributable to Solutia was $52 million in the fourth quarter of 2009 or an increase of $43 million as compared to the fourth quarter of 2008. This significant year over year underlying earnings improvement was primarily due to higher sales volumes and lower costs.

Consolidated EBITDA for the fourth quarter increased to $96 million from $36 million for the same period in 2008. After taking into consideration adjustments in both periods (as detailed below in the consolidated and segment sales, EBITDA and Adjusted EBITDA table), Adjusted EBITDA increased to $115 million from $72 million.

Click here for more details.

Solutia Inc

Must ReadView All

Courtesy: Stone Island

Apparel/Garments | On 25th Jun 2018

Stone Island has mastered ingredient branding: Braind

Italian high-end men's apparel brand Stone Island tops the list of...

Courtesy: Tecnorama

Textiles | On 25th Jun 2018

'Tecnorama automatic dyeing system offers efficiency'

Italy based Tecnorama’s fully-automatic machinery for dispensing...

Courtesy: Pantone

Textiles | On 25th Jun 2018

Pantone unveils polyester standards

Pantone, provider of professional colour standards for the design...

Interviews View All

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Top executives
Textile industry

It will take some time for the people to change their buying choices

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Kevin Nelson

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Marcel Alberts

Coating at a fibre level is a practice not usually seen in the...

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category

Related Categories:

Advanced Search