US ‘cautiously optimistic’ about composites recovery

• Book ID: 104406617
• Publisher: Elsevier Science
• Year: 2010
• Weight: 58 KB
• Volume: 2010
• Category: Article
• ISSN: 1364-5439
• DOI: 10.1016/s1364-5439(10)70104-0

✦ Synopsis

to $2.2 bn. The increases were attributed to higher volumes in tonnage gasses and electronics and performance materials. Sales were also driven by favourable currency exchange rates and higher selling prices. Eastman Chemical's net income rose to $101 M in 1Q 2010 against $2 M in the same year-ago period. Earnings per share stood at $1.37, surpassing analysts' projections of $1.29. Sales increased 39% to $1.6 bn as a result of increased sales volume, a favourable movement in product mix and selling price hikes. The firm's coatings, adhesives, specialty polymer and ink operating earnings grew more than threefold to $66 M on the back of lower feedstock and energy costs, and cost-cutting initiatives, which more than compensated for lower selling prices and sales volumes.