Adhesives Mag logo
search
cart
facebook twitter linkedin youtube
  • Sign In
  • Create Account
  • Sign Out
  • My Account
Adhesives Mag logo
  • NEW PRODUCTS
  • NEWS
    • Adhesives & Sealants Headlines
    • Mergers/Acquisitions
    • Market Trends
    • TOP 20
  • TOPICS
    • Finished Adhesives and Sealants
    • Pressure-Sensitive Adhesives (PSAs)
    • Coatings
    • Raw Materials and Chemicals
    • Materials Handling/Processing
    • Meter/Mix/Dispense
    • Curing
    • Testing/Quality Control
    • Packaging of Adhesives & Sealants
    • Converting/Packaging
    • Composites
    • Sustainability
  • EVENTS
    • MAX
    • Events Calendar
  • COLUMNS
    • European Perspectives
    • Strategic Solutions
    • Supply Chain Strategies
    • Tape Talk
  • MULTIMEDIA
    • Videos
    • Podcasts
    • Webinars
    • eBooks
  • EXPLORE
    • Adhesives in Action
    • Blog
    • ASI Store
    • Industry Links
    • Market Research
    • Classifieds
  • DIRECTORIES
    • Buyers' Guide
    • Global Adhesives & Sealants Directory
    • Raw Materials, Chemicals, Polymers and Additives Handbook
    • Equipment Handbook
    • Distributor Directory
  • EMAGAZINE
    • EMAGAZINE
    • ARCHIVE ISSUES
    • ADVERTISE
      • Custom Content & Marketing Services
    • CONTACT
  • SIGN UP!
Adhesives & Sealants Headlines

Huntsman Releases First Quarter Results (5/19/09)

May 19, 2009
Huntsman, The Woodlands, TX, has recently announced its first quarter results for 2009.

Huntsman, The Woodlands, TX, has recently announced its first quarter results for 2009.
  • Revenues for the first quarter of 2009 were $1,693 million, a decrease of 33% compared to $2,540 million for the first quarter of 2008 and a decrease of 17% compared to $2,048 million for the fourth quarter of 2008.
  •  
  • As of March 31, 2009, we had $1,115 million of combined cash and unused borrowing capacity consisting of $473 million cash and $642 million available borrowings under our credit facilities. We generated positive cash flow through aggressive management of our primary working capital. This available liquidity uniquely positions our business during these challenging economic times.
  •  
  • Net loss attributable to Huntsman Corp. for the first quarter of 2009 was $290 million or $1.24 loss per diluted share compared to net income attributable to Huntsman Corp. of $7 million or $0.03 per diluted share for the same period in 2008 and net income attributable to Huntsman Corp. of $598 million or $2.53 per diluted share for the fourth quarter of 2008. Adjusted net loss from continuing operations attributable to Huntsman Corp. for the first quarter of 2009 was $274 million or $1.17 loss per diluted share including tax expense of $146 million or $0.62 per diluted share due to the establishment of a tax valuation allowance in the U.K. Excluding the tax valuation allowance the first quarter 2009 loss from continuing operations attributable to Huntsman Corp. was $128 million or $0.55 loss per diluted share. This adjusted net loss reflects a decrease compared to adjusted net income from continuing operations attributable to Huntsman Corp. of $17 million or $0.07 per diluted share for the same period in 2008 and adjusted net loss from continuing operations attributable to Huntsman Corp. of $91 million or $0.38 loss per diluted share for the fourth quarter of 2008.
  •  
  • April 16, 2009, we announced that as a matter of precautionary planning our wholly owned subsidiary Huntsman International LLC entered into a credit agreement waiver with lenders of its $650 million revolving credit facility. Among other things the waiver relaxed the senior secured leverage ratio covenant from 3.75 to 1.00 to 5.00 to 1.00 for the measurement periods between June 30, 2009 and June 30, 2010.
  •  
  • January 22, 2009, we announced a company-wide initiative to reduce costs across all divisions and functions. Including steps begun in the fourth quarter of 2008, we intend to reduce our full-time employment by approximately 1,250 positions – nearly 10% of all employees. In addition, full-time contractor positions will be reduced by 490. Annualized operating cost savings from all elements of the initiative are estimated to be $150 million.
  •  
  • Adjusted EBITDA from continuing operations for the first quarter of 2009 was $50 million compared to $188 million for the same period in 2008 and $51 million for the fourth quarter of 2008.
  •  
  • We continue to pursue our multi-billion dollar fraud and tortious interference claims against Credit Suisse and Deutsche Bank. The court in Montgomery County, TX, has ordered mediation to begin on May 13, 2009 and trial to commence on June 8, 2009.

Share This Story

Looking for a reprint of this article?
From high-res PDFs to custom plaques, order your copy today!

Recommended Content

JOIN TODAY
to unlock your recommendations.

Already have an account? Sign In

  • mouse in hole

    Using Foam Sealants for Pest Prevention

    According to the National Pest Management Association,...
    Adhesives and Sealants Topics
    By: Kevin Corcoran
  • linked network nodes

    Using the Power of AI for Adhesive and Sealant Formulation

    With the help of software solutions, adhesive formulators...
    Finished Adhesives and Sealants
    By: Karen Parker
  • top20-hero.jpg

    2024 ASI Top 20: Leading Global Manufacturers of Adhesives and Sealants

    ASI's annual ranking of the top 20 global adhesive and...
    Pressure-Sensitive Adhesives (PSAs)
Manage My Account
  • eMagazine Issues
  • eNewsletter
  • Online Registration
  • Manage My Preferences
  • Subscription Customer Service

More Videos

Popular Stories

ASI top 20 global manufacturers

2025 ASI Top 20: Leading Global Adhesives and Sealants Manufacturers

Image of scrabble pieces with pictures of people

Sika Purchases Construction Chemicals Company in Qatar

image of a graph representing markets

H.B. Fuller Reports Results for Second Quarter and Updates 2025 Guidance

ASI Top 20 website

Events

January 1, 2030

Webinar Sponsorship Information

For webinar sponsorship information, visit www.bnpevents.com/webinars or email webinars@bnpmedia.com.

View All Submit An Event

Products

Structural Adhesives: Properties, Characterization and Applications

Structural Adhesives: Properties, Characterization and Applications

See More Products

ASI CASE EBOOK

Related Articles

  • Henkel Releases First Quarter Results (5/7/09)

    See More
  • Dow Reports First Quarter Results (5/1/09)

    See More
  • 3M Reports First Quarter Results (5/1/09)

    See More

Related Products

See More Products
  • adhesive-bonding-materials.gif

    Adhesive Bonding: Materials, Applications and Technology

  • adhesion aspects.jpg

    Adhesion Aspects in MEMS/NEMS

  • nanostructured.jpg

    Nanostructured Thin Films and Coatings Mechanical Properties

See More Products
×

Keep the info flowing with our eNewsletters!

Get the latest industry updates tailored your way.

JOIN TODAY!
  • RESOURCES
    • Advertise
    • Contact Us
    • Directories
    • Store
    • Want More
  • SIGN UP TODAY
    • Create Account
    • eMagazine
    • eNewsletters
    • Customer Service
    • Manage Preferences
  • SERVICES
    • Marketing Services
    • Reprints
    • Market Research
    • List Rental
    • Survey & Sample
  • STAY CONNECTED
    • LinkedIn
    • Facebook
    • Youtube
    • X (Twitter)
  • PRIVACY
    • PRIVACY POLICY
    • TERMS & CONDITIONS
    • DO NOT SELL MY PERSONAL INFORMATION
    • PRIVACY REQUEST
    • ACCESSIBILITY

Copyright ©2025. All Rights Reserved BNP Media.

Design, CMS, Hosting & Web Development :: ePublishing