Ceramic Industry News

Momentive's First Quarter Sales Down 36% (posted 5/14/09)

May 14, 2009
/ Print / Reprints /
ShareMore
/ Text Size+

Momentive Performance Materials Inc. recently reported its consolidated results for the fiscal three-month period ended March 29, 2009. The company achieved net sales of $418.1 million, compared to $656.6 million in the fiscal three-month period ended March 30, 2008, a decrease of 36.3%. Adjusted EBITDA in the 2009 first quarter was $14.9 million, compared to adjusted EBITDA of $117.1 million in the previous year’s quarter, a decrease of 87.2%.

The company posted an operating loss of $62.8 million in the 2009 first quarter vs. operating income of $42.1 million in the first quarter of 2008. The first quarter 2009 net loss was $96.8 million, compared to a net loss of $48.9 million in the prior year’s first quarter.

“Our results in the first quarter were significantly impacted by the global recession, in-line with our previous guidance,” said Jonathan Rich, president and chief executive officer. “While we expect modest increases in volume in the second quarter on a sequential basis due to normal seasonality, volumes remain significantly below historical rates and our operating visibility remains very limited. As the year unfolds, we will continue to focus on reducing our cost structure and preserving cash.”

Additional information is available 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

June 2014 Issue Highlights

Our June 2014 issue is now available!

Podcasts

Manufacturing Day 2014

Manufacturing Day organizers share their insights with Managing Editor Kelsey Seidler.

More Podcasts

Ceramic Industry Magazine

CI September 2014 cover

2014 September

You won't want to miss the CI Top 10, traditionally our most popular article of the year!

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