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Eastman posts higher sales, lower earnings

Sharon Hayes • 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.

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