Eastman posts higher sales, lower earnings
Apr 26, 2012 at 9:08 PM
KINGSPORT — Eastman Chemical Co. posted lower earnings in the first quarter of 2012, while sales revenue was slightly higher in the period due to higher selling prices.
The Kingsport-based company posted net income of $158 million or $1.12 per diluted share in the first three months of the year vs. $240 million or $1.66 per share in the year-ago period.
Sales revenue in the first quarter reached $1.82 billion, up from $1.76 billion in the same quarter last year.