News
SPOKANE, WA -- Key Tronic
Corp. an mid-sized EMS provider,
today announced first-quarter revenue of $44.3 million, down 9% from
last year, for the quarter ended
Oct. 1.
Net income was $702,000, up 166% from $266,000.
Net income was $702,000, up 166% from $266,000.
MILPITAS, CA -- Solectron Corp. has completed a $250
million stock buyback begun in July, and will conduct a similar-sized
stock repurchase program starting in the second quarter of fiscal 2006.
THE WOODLANDS, TX -- Huntsman
Corp., the chemicals maker,
reported a third-quarter net loss of $29.8 million on a 6.4% gain in
revenues, to $3.1 billion, for the quarter ended Sept. 30.
The loss included $600,000 in tax losses from discontinued operations and net of tax charges of $68.4 million for restructuring, impairment and plant closing costs and $41.4 million for the early extinguishment of debt.
The company reported a net income of $43.7 million in the third quarter of 2004, including $2.8 million in tax losses from discontinued operations and net of tax charges of $32.6 million for restructuring, impairment and plant closing costs and a net of tax gain for early extinguishment of debt of $2.3 million.
Sales from its Advanced Materials group, which makes coatings for construction markets and electronics, fell 1.7%, to $289.4 million on lower volumes. Average selling prices rose 10% due to price increase initiatives in certain markets in response to improved demand and higher raw material costs.
Peter R. Huntsman, president and CEO, said, "The third quarter was extremely challenging from an operating perspective. Hurricane Katrina and Hurricane Rita negatively impacted not only our manufacturing facilities in the U.S. Gulf Coast but also the operations of many of our customers and suppliers. These storms also resulted in dramatic increases in feedstock and energy costs in the second half of the quarter.
"In addition, raw material pressures appear to have eased in recent weeks, which together with initiatives to raise our selling prices in our differentiated segments, should provide opportunities to expand profitability as we enter 2006."
The loss included $600,000 in tax losses from discontinued operations and net of tax charges of $68.4 million for restructuring, impairment and plant closing costs and $41.4 million for the early extinguishment of debt.
The company reported a net income of $43.7 million in the third quarter of 2004, including $2.8 million in tax losses from discontinued operations and net of tax charges of $32.6 million for restructuring, impairment and plant closing costs and a net of tax gain for early extinguishment of debt of $2.3 million.
Sales from its Advanced Materials group, which makes coatings for construction markets and electronics, fell 1.7%, to $289.4 million on lower volumes. Average selling prices rose 10% due to price increase initiatives in certain markets in response to improved demand and higher raw material costs.
Peter R. Huntsman, president and CEO, said, "The third quarter was extremely challenging from an operating perspective. Hurricane Katrina and Hurricane Rita negatively impacted not only our manufacturing facilities in the U.S. Gulf Coast but also the operations of many of our customers and suppliers. These storms also resulted in dramatic increases in feedstock and energy costs in the second half of the quarter.
"In addition, raw material pressures appear to have eased in recent weeks, which together with initiatives to raise our selling prices in our differentiated segments, should provide opportunities to expand profitability as we enter 2006."
