ERJ staff report (DS)
Houston, Texas -- Kraton Performance Polymers, Inc. reported a full-year loss on 25-percent lower sales for the 12 months to December 2009, but reported strong growth in the final quarter. The company specialises makes styrenic thermoplastic elastomers as well as polyisoprene latices.
Sales for the 12 months were $968 million, down from $1226 million the previous year. Net loss for the year was $290 000, compared with a profit of $28.4 million a year previously.
Kevin Fogarty, president and chief executive officer said â€œWe are pleased to report solid and improving results in our fourth quarter of 2009. After a challenging nine months, given the effects a weak global economy had on our business, we are beginning to experience clear indications of volume recovery."
The company said sales volume increased by 16 percent, while revenues were up by 8 percent in the fourth quarter. In particular sales of synthetic polyisoprene latex reached record levels in the quarter.
Kraton said, "Revenue in our Emerging Businesses end-use was $24 million in the fourth quarter of 2009 and $61 million for full-year 2009, representing an increase of $14 million and $26 million, respectively, compared to 2008. The steady increase in revenue throughout the year was due to the continued penetration of Kraton's Isoprene Rubber (IR) and Isoprene Rubber Latex (IRL) products in applications such as surgical gloves and condoms."
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Press release from Kraton