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People & Business :: Companies
Celanese Turns a Profit on Improved Global Demand
7:05 AM MST | February 9, 2010 | Kerri Walsh
Celanese reported fourth-quarter net income of $5 million (50 cts/share), excluding $17 million in net charges and adjustments, primarily related to the company's restructuring costs. The consensus of analysts estimates was for 47 cts/share. Celanese reported a year-ago loss of $155 million, which included $101 million of non-cash inventory accounting impact. Sales rose 8%, to $1.3 billion led by higher global demand for acetyl intermediates and advanced engineered materials products. Higher volumes in those businesses were offset by lower selling...
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