Koppers Holdings Inc. (NYSE:KOP)

Mr. Turner concluded, "Although at our last call we said we were hopeful that we would be in a position to provide guidance at this point in the year, we are still feeling the effects of a volatile economic environment in our aluminum and carbon black markets as well as the impact on raw material availability due to lower steel production, and therefore are not prepared to give specific guidance for 2009. However, given that the second quarter is typically positively impacted by seasonality, we are hopeful that when second quarter results are available we will be in a better position to project what we think the year will look like. In the meantime, we will continue to focus on optimizing production and profits and managing our cash flows."

Source: Marketwire (May 7, 2009)

Guidance Report:

Due to 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. These charges have been added back to the revised guidance.