Solutia Reports Q4 Adjusted EPS of $.36

Solutia Inc. SOA today reported income from continuing operations attributable to Solutia of $43 million for the fourth quarter 2010, up $34 million from the same period in 2009. The fourth quarter of 2009 was impacted by certain events affecting comparability (detailed below), which resulted in net after-tax charges of $45 million. After adjusting for these items, income from continuing operations attributable to Solutia decreased $11 million as compared to the fourth quarter of 2009. Adjusted diluted earnings per share for the fourth quarter totaled 36 cents, down 9 cents from the same period in 2009. Despite higher sales volumes, year-over-year Adjusted diluted earnings per share decreased primarily due to higher raw material costs, depreciation and amortization expense and increased tax expense. Adjusted EBITDA for the fourth quarter totaled $116 million, down $3 million from the same period in 2009.