Huntsman textile reports better growth

22 Feb '08

2 min read

Huntsman releases 2007 Q4 and full year results. Adjusted EBITDA from continuing operations for the fourth quarter 2007 increased by 13% as compared to prior year period.

Fourth Quarter 2007 Highlights
• Revenues for the fourth quarter of 2007 were $2,503.9 million, an increase of 17% as compared to $2,147.8 million for the fourth quarter of 2006.

• Net income for the fourth quarter of 2007 was $2.2 million or $0.01 per diluted share as compared to net income of $80.2 million or $0.34 per diluted share for the same period in 2006. Adjusted net income from continuing operations for the fourth quarter of 2007 was $47.7 million or $0.20 per diluted share as compared to $47.8 million or $0.20 for the same period in 2006.

• Adjusted EBITDA from continuing operations for the fourth quarter of 2007 was $192.3 million, an increase of 13 % as compared to $170.8 million for the same period in 2006.

2007 Highlights:
• Revenues for 2007 were $9,650.8 million, an increase of 11% as compared to $8,730.9 million for 2006.

• Net loss for 2007 was $172.1 million or $0.74 loss per diluted share as compared to net income of $229.8 million or $0.99 per diluted share for 2006. 2007 net loss includes $217.1 million of loss from discontinued operations and $209.8 million in merger related expenses while 2006 results includes $132.9 of loss from discontinued operations. Adjusted net income from continuing operations for 2007 was $261.0 million or $1.12 per diluted share an increase of 5% as compared to $250.0 million
or $1.07 per diluted share for 2006.

• Adjusted EBITDA from continuing operations for 2007 was $912.9 million as compared to $923.7 million for 2006.

• Net interest expense declined by 19% to $285.6 million in 2007 from $350.7 million in 2006.

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