Momentive Performance Materials Inc. ("Momentive" or "the
Company") today reported its consolidated results for the fiscal
three-month period ended July 1, 2007. Highlights include:
-- Net sales of $651.6 million compared to $616.9 million in the
fiscal three-month period ended July 2, 2006.
-- Operating income of $54.1 million versus $68.9 million in the
fiscal three-month period ended July 2, 2006.
-- Net loss of $32.9 million compared to net income of $15.7
million in the fiscal three-month period ended July 2, 2006.
-- Adjusted EBITDA of $119.6 million compared to Adjusted EBITDA
of $115.8 million in the fiscal three-month period ended July
2, 2006, resulting in an Adjusted EBITDA for the Last Twelve
Month (LTM) period ending July 1, 2007 of $436.1 million.
"I'm delighted to report the results of my first quarter as CEO of
Momentive. We have improved adjusted EBITDA year-over-year. We have
made changes to realign our internal cost structure while continuing
to invest in resources that will help our customers grow and that will
create a competitive edge for Momentive," said Jonathan Rich,
president & CEO. He added, "Momentive and GE recently agreed on the
purchase price adjustment, with a final payment made to GE of $64
million that will be paid in the third quarter."
For more information, interested parties may participate in
Momentive's Second Quarter Results Earnings Conference Call on
Wednesday, August 22, 2007 at 9:00 A.M. EDT:
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To read the full press release, including financial results, see
http://www.momentive.com/geam/en/HomePage/Home/
investor/reports/q2report2007.pdf.
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