Eastman announces fourth-quarter and full-year 2007 results

Pigment & Resin Technology

ISSN: 0369-9420

Publication date: 4 July 2008

Citation

(2008), "Eastman announces fourth-quarter and full-year 2007 results", Pigment & Resin Technology, Vol. 37 No. 4. https://doi.org/10.1108/prt.2008.12937dab.012

Publisher

:

Emerald Group Publishing Limited

Copyright © 2008, Emerald Group Publishing Limited


Eastman announces fourth-quarter and full-year 2007 results

Article Type: Industry news From: Pigment & Resin Technology, Volume 37, Issue 4

Eastman Chemical Company has announced earnings of US$1.21 per diluted share for fourth quarter 2007 versus earnings of US$1.12 per diluted share for fourth quarter 2006. Earnings per diluted share from continuing operations were US$1.25 for fourth quarter 2007 compared with US$1.26 for fourth quarter 2006. Results from discontinued operations were a loss of US$0.04 per diluted share for fourth quarter 2007 compared with a loss of US$0.14 per diluted share for fourth quarter 2006. Sales revenue for coatings, adhesives, speciality polymers and inks increased by 6 percent due to higher selling prices in response to higher raw material and energy costs, a favourable shift in product mix, and favourable foreign currency exchange rates. Operating earnings declined due to higher raw material and energy costs which were partially offset by higher selling prices, a favourable shift in product mix, and favourable foreign currency exchange rates.