ERJ staff report (DS)
Houston, Texas -- Kraton Performance Polymers, Inc. said revenues and profits soared in the three months to March 2010. Sales volume increased 55% to 73 kilotons; revenues increased 48% to $273 million and adjusted EBITDA improved more than 100% to $43 million, reflecting a margin of 16% of revenues.
Kevin Fogarty, president and chief executive officer, said, â€œThe increase in revenues reflects solid volume growth, with the strongest sales growth coming from our Paving and Roofing end use, which was particularly hard-hit by the general economic slowdown."
â€œVolume growth in the first quarter was broad-based across each of our end uses, and even though below our historical peak first quarter volume, the 73 kilotons of total sales volume is encouraging, and certainly more in line with historical performance,â€ said Fogarty.
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Press release from Kraton