Utah's Huntsman Corp. posts big jump in Q1 net income
Huntsman Corp., the worldwide chemicals conglomerate based in Salt Lake City and The Woodlands, Texas, said its revenue increased 9 percent during the first quarter of its 2012 fiscal year, compared with the same period in 2011.
The company said its revenue for the quarter ended March 31 reached $2.9 billion, compared with $2.7 billion. Net income was $163 million, up from $62 million in last year's first quarter.
In a statement, President and CEO Peter Huntsman said the first quarter was a record-breaking one for Huntsman Corp. in terms of financial performance. "There are still considerable financial benefits forthcoming from our restructuring efforts," he said. "Notwithstanding certain economic challenges in various parts of the world, I am most optimistic about our earnings potential."