Eastman reports revenue up 33% for full year
New level of earnings performance established
Eastman Chemical Company has announced that it has seen positive results for 2010, seeing a revenue total of $8.5bn for the full year, an increase of 33% on the previous year.
And the fourth quarter results were nearly as good with a 23% boost in sales revenue, totalling $1.5bn. Eastman has put this down to higher sales volume and increased selling prices. Operating earnings in the fourth quarter stood at $161m compared to making an operating loss of $4m in the fourth quarter of 2009.
Jim Rogers, ceo of Eastman Chemical Company commented on the results: “The strength of our portfolio businesses was very clearly demonstrated throughout 2010. We’ve established a new level of earnings performance for the company and we are continuing our efforts to build upon these earnings.
“In addition, our solid balance sheet and expectation for continued strong cash generation positions us for further earnings growth.”