Operating earnings in second quarter 2007 were $168 million compared with operating earnings of $190 million in second quarter 2006.
Excluding accelerated depreciation costs from second quarter 2007 and asset impairments and restructuring charges from both second quarter 2007 and second quarter 2006, operating earnings were $184 million in second quarter 2007 compared with $193 million in second quarter 2006.
The decline was due primarily to lower operating results in the Performance Polymers and Fibers segments. The company's second-quarter 2007 raw material and energy costs increased by approximately $50 million compared with second quarter 2006.
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