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Eastman Increases First-Quarter 2005 Outlook

Published on 2005-03-10. Author : SpecialChem

KINGSPORT, Tenn.-- Eastman Chemical Company announced that first-quarter 2005 margins are expected to increase in all operating segments compared with fourth quarter 2004. The improvement is due primarily to the implementation of higher selling prices and reduced volatility in raw material and energy costs. Continued strong sales volume and the impact of cost reduction measures are also contributing to the improved profitability. As a result, the company expects first-quarter 2005 earnings per share to be above the high end of the current range of estimates on First Call, which is $1.19 per share.

Eastman will announce first-quarter 2005 sales and earnings on April 28, 2005, at approximately 5:00 p.m. Eastern Time. The company will host a conference call with industry analysts on April 29 at 8:00 a.m. Eastern Time.

About Eastman Chemical Company

Eastman Chemical Company manufactures and markets chemicals, fibers and plastics worldwide. It provides key differentiated coatings, adhesives and specialty plastics products; is the world's largest producer of PET polymers for packaging; and is a major supplier of cellulose acetate fibers. Eastman is leveraging its heritage of innovation and strength in polyester, acetyl and organic chemistry technologies to drive growth and meet increasing demand in four select markets: building and construction, packaging, health, and electronics. Founded in 1920 and headquartered in Kingsport, Tenn., Eastman is a FORTUNE 500 company with 2004 sales of $6.6 billion and approximately 12,000 employees.

Forward-looking Statements: The statements in this news release concerning expected first-quarter 2005 sales volume, selling prices, raw material and energy costs, and earnings as well as some of the significant reasons for such expected results, are forward-looking. Such statements are based upon preliminary information, internal estimates, and management assumptions, plans and expectations and are subject to a number of risks and uncertainties inherent in projecting future conditions, events, and 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-Q for the quarter ended Sept. 30, 2004 and the Form 10-K for 2004 to be filed.

Source: Eastman


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