Vertically integrated fabricated products producer,Westlake Chemical Corporation reported net income of $73.6 million, or $1.13 per diluted share, and income from operations of $112.5 million on net sales of $636.4 million for the fourth quarter of 2005.
This compares favorably with fourth quarter 2004 net income of $47.3 million, or $0.73 per diluted share, and income from operations of $81.4 million on net sales of $563.1 million.
The improvement in net sales and income from operations was primarily the result of increased selling prices, which outpaced higher energy and feedstock costs, and higher Vinyls segment sales volumes.
These increases were partially offset by lower ethylene, polyethylene and styrene sales volumes.
These lower sales volumes were caused by production outages at the company's Lake Charles facilities resulting from Hurricane Rita.
The Lake Charles facilities were shut down for approximately two weeks during the fourth quarter primarily due to the lack of electrical power and other utilities.
Click to view more details
Westlake Chemical Corporation is a manufacturer and supplier of petrochemicals, polymers and fabricated products with headquarters in Houston, Texas.
Westlake Chemical Corporation
marketing@alchempro.com
