Ceramic Industry News

Momentive Announces Preliminary 4th Qtr Financial Results

January 27, 2010
/ Print / Reprints /
ShareMore
/ Text Size+

Momentive Performance Materials Inc. recently announced its preliminary results for the fourth quarter ended December 31, 2009. The company expects to post fourth quarter 2009 net sales of approximately $600 million to $610 million, GAAP operating income of approximately $50 to $60 million and adjusted EBITDA of approximately $101 to $111 million.

Last year in the fourth quarter, Momentive recorded net sales of approximately $545.3 million, GAAP operating loss of approximately $933.2 million (including a goodwill impairment charge of approximately $857.5 million), and adjusted EBITDA of approximately $39.2 million (reflecting pro-forma effects of certain estimated cost savings). Momentive also estimates that as of December 31, 2009, its total debt, net of cash and cash equivalents, will be between $2,825 million and $2,850 million, up slightly from the third quarter, primarily due to Momentive’s semi-annual interest payments on its notes made in December.

“Demand in the fourth quarter continued to improve on a sequential basis, in line with our previous guidance, but remained well below normalized historical levels,” said Jonathan Rich, president and CEO. “Our strong year-over-year fourth quarter comparisons reflect a modest recovery in our business from last year’s depressed levels and the significant cost actions we implemented in 2009.”

The company’s website is located at www.momentive.com.

Links

Did you enjoy this article? Click here to subscribe to Ceramic Industry Magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

May 2014 Issue Highlights

Our May 2014 issue is now available!

Podcasts

Sapphire: An Extreme Performer

Ian Doggett of Goodfellow and CI Editor Susan Sutton discuss the benefits and opportunities provided by industrial sapphire.

More Podcasts

Ceramic Industry Magazine

CI August 2014 cover

2014 August

Explore technical ceramics, glasses and refractories in our August issue!

Table Of Contents Subscribe

THE CERAMIC INDUSTRY STORE

M:\General Shared\__AEC Store Katie Z\AEC Store\Images\Ceramics Industry\handbook of advanced ceramics.gif
Handbook of Advanced Ceramics Machining

Ceramics, with their unique properties and diverse applications, hold the potential to revolutionize many industries, including automotive and semiconductors.

More Products

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

Directories

CI Data Book July 2012

Ceramic Industry's Directories including Components, Equipment Digest, Services, Data Book & Buyers Guide, Materials Handbook and much more!

STAY CONNECTED

facebook_40px twitter_40px  youtube_40pxlinkedin_40google+ icon 40px