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Eastman Announces Higher First-Quarter 2008 Earnings Expectation

Published on 2008-04-09. Author : SpecialChem

KINGSPORT, Tenn. -- Eastman Chemical Company has announced that first-quarter 2008 earnings per share excluding gains and costs related to strategic decisions and actions are expected to be above the high end of the current range of analyst estimates on First Call which is $1.30 per share. This solid performance was primarily due to continued strong sales volume and higher selling prices offsetting higher raw material and energy costs.

About Eastman Chemical Company:

Eastman manufactures and markets chemicals, fibers and plastics worldwide. It provides key differentiated coatings, adhesives and specialty plastics products; is a major supplier of cellulose acetate fibers; and produces PET polymers for packaging. As a Responsible Care® company, Eastman is committed to achieving the highest standards of health, safety, environmental and security performance. Founded in 1920 and headquartered in Kingsport, Tenn., Eastman is a FORTUNE 500 company with 2007 sales of $6.8 billion and approximately 10,500 employees.

Forward-Looking Statements:

The statements in this news release concerning expected first-quarter 2008 sales volume, selling prices, raw material and energy costs, and earnings per share excluding certain gains and costs are forward-looking. Such statements are based upon preliminary information and management assumptions and expectations and are subject to risks and uncertainties inherent in projecting results. Important factors that could cause actual results to differ materially from the expectations expressed in the forward-looking statements, in addition to those identified with such forward-looking statements, are detailed in the company's reports filed with the Securities and Exchange Commission, including the Form 10-K for 2007 and the Form 10-Q to be filed for the quarter ended March 31, 2008.

Source: Eastman Chemical Company


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