Koppers Announces Reduction of 2008 Guidance
PITTSBURGH, PA–(Marketwire - January 21, 2009) - Koppers Holdings Inc. (
significant changes in fourth quarter end-market demand and certain product
pricing, Koppers announced today a reduction in previously issued 2008
annual profit guidance for growth in Adjusted EBITDA to 6-8% from 14-17%,
and for growth in Adjusted EPS to 25-29% from 37-41%. EBITDA is
calculated as net income plus interest expense plus depreciation and
amortization plus income tax provision less discontinued operations plus
minority interest. Unadjusted fourth quarter operating income is estimated
to be $0-2 million and will result in a net loss from continuing operations
of $12-14 million for the quarter. Net income for the quarter, including
the gain on the sale of Monessen, is expected to be $72-74 million.
Incremental charges totaling approximately $17 million have negatively
impacted fourth quarter results.
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