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Georgia Gulf Reports Third-Quarter 2012 Financial Results

Stocks in this article: GGC

Conference Call

The company will discuss third-quarter financial results and business developments via conference call and webcast on Wednesday, November 7, at 10:00 a.m. Eastern time. To access the company's third-quarter conference call, please dial (877) 312-5406 (domestic) or (706) 679-9856 (international). A webcast of the conference call is available on the company’s website, www.ggc.com. Playbacks will be available from 1:00 p.m. Eastern time on Wednesday, November 7, until 11:59 p.m. Eastern time on Wednesday, November 21. Playback numbers are (855) 859-2056 (domestic) or (706) 679-9856 (international). The conference call ID number is 47846886.

About Georgia Gulf

Georgia Gulf Corporation is a leading, integrated North American manufacturer of two chemical lines, chlorovinyls and aromatics, and manufactures vinyl-based building and home improvement products. The company's vinyl-based building and home improvement products, marketed under the Royal Building Products and Exterior Portfolio brands, include window and door profiles, mouldings, siding, pipe and pipe fittings, and deck products. Georgia Gulf, headquartered in Atlanta, Georgia, has manufacturing facilities located throughout North America to provide industry-leading service to customers. For more information, visit www.ggc.com.

Use of Non-GAAP Measures

Georgia Gulf supplemented the financial statements prepared in accordance with U.S. Generally Accepted Accounting Principles (GAAP) and shown in this press release with adjusted net income because investors commonly use adjusted net income as a main component of valuation analysis of cyclical companies such as Georgia Gulf. Adjusted net income is not a measurement of financial performance under U.S. GAAP and should not be considered as an alternative to net income (loss) as a measure of performance. In addition, our calculation of adjusted net income may be different from the calculation used by other companies and, therefore, comparability may be limited.

A reconciliation of net income (loss) determined in accordance with U.S. GAAP to Adjusted net income is provided in the table below:

(in millions)     3Q 2012     3Q 2011
Net Income $39.3     $34.4
a) Gain on sale of assets (1.9)

-

b) Transaction related costs, restructuring and other, net 14.8

-

c) Tax impact of above items a) & b)

(2.7)

-

d) Release of tax reserves related to Royal Group prior to its acquisition by Georgia Gulf (1.1)     (8.1)
Adjusted Net Income $48.4     $26.3

(Note: table above may not foot due to rounding)

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