Eastman Chemical Posts $2 Million 1Q Profit

KINGSPORT, Tenn. (AP) — Chemical, fiber, and plastic maker Eastman Chemical Co. said on Thursday it eked out a $2 million profit even as results declined in most of its segments.

The company's profit of 3 cents per share for the period that ended March 31 compared with a profit of $133 million, or $1.68 per share, during the same period last year. Revenue fell 34.6 percent to $1.13 billion, from $1.73 billion a year ago.

Not counting special items, the company said it would have earned 25 cents per share from continuing operations. Analysts surveyed by Thomson Reuters were expecting a profit of 14 cents per share on revenue of $1.37 billion. ...