HOUSTON (May 18, 2009)—Kraton Polymers L.L.C. reported operating revenues of $185 million for the three months ended March 31, a decline of $82 million, or 31 percent, over the same period in 2008.
The company posted an operating profit of $5 million, down from $15 million a year ago. After tax, however, the company reported a net loss of $16 million, compared to the $9 million loss reported a year earlier.
President and CEO Kevin M. Fogarty said the company is pleased with its first quarter performance, considering the macro-economic environment.
“While our sales volume declined 39 percent from the first quarter of 2008, this was in line with our expectation and consistent with the general industry trend,” he said.
Fogarty said the company expects continued improvement in the second quarter of 2009, relative to the comparable prior year period.