KINGSPORT, Tenn., July 30, 2012 Eastman Chemical Company (NYSE:EMN) today announced earnings from continuing operations of $1.40 per diluted share for second quarter 2012 versus $1.44 per diluted share for second quarter 2011, excluding $33 million of financing, transaction and integration costs in second quarter 2012 related to the acquisition of Solutia and a $15 million gain in second quarter 2011 from the sale of a previously impaired asset. Reported earnings from continuing operations were $1.26 per diluted share in second quarter 2012 and $1.51 per diluted share in second quarter 2011. For reconciliation to reported company and segment earnings, see Tables 3 and 4 in the accompanying second-quarter 2012 financial tables.
"This is an exciting time for Eastman with continued strong earnings performance throughout the company and the recent completion of the Solutia acquisition," said Jim Rogers, Chairman and CEO. "The integration of Solutia is well underway and our capture of cost synergies is on plan such that we are poised to deliver earnings growth and generate significant cash for years to come."
| (In millions, except per share amounts) | 2Q2012 |
2Q2011
|