Wilton, Connecticut, United States
Momentive Performance Materials Inc. ("Momentive" or "the Company") has reported its consolidated results for the fiscal three-month period ended July 1, 2007. Highlights include:
-- Net sales of $651.6 million compared to $616.9 million in the fiscal three-month period ended July 2, 2006.
-- Operating income of $54.1 million versus $68.9 million in the fiscal three-month period ended July 2, 2006.
-- Net loss of $32.9 million compared to net income of $15.7 million in the fiscal three-month period ended July 2, 2006.
-- adjusted EBITDa of $119.6 million compared to adjusted EBITDa of $115.8 million in the fiscal three-month period ended July 2, 2006, resulting in an adjusted EBITDa for the Last Twelve Month (LTM) period ending July 1, 2007 of $436.1 million.
"I'm delighted to report the results of my first quarter as CEO of Momentive. We have improved adjusted EBITDa year-over-year. We have made changes to realign our internal cost structure while continuing to invest in resources that will help our customers grow and that will create a competitive edge for Momentive," said Jonathan Rich, president & CEO. He added, "Momentive and GE recently agreed on the purchase price adjustment, with a final payment made to GE of $64 million that will be paid in the third quarter."
For more information, interested parties may participate in Momentive's Second Quarter Results Earnings Conference Call on Wednesday, august 22, 2007 at 9:00 a.M. EDT:
U.S. Toll-Free: 800.299.8538
Outside of the U.S. +1.617.786.2902
Passcode: 80381847
To read the full press release, including financial results, see http://www.momentive.com/geam/en/HomePage/Home/ investor/reports/q2report2007.pdf.
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Source: Business Wire (Business Wire India)