Momentive sales decline

qiangzi

Tuesday, May 8, 2012

! Y% _# a. ?- X! K$ B7 ~$ Y% aAlbany, NY - Momentive Performance Materials reported first quarter net sales of $593 million compared to $660 million in the three-month period ended March 31, 2011, a decrease of 10 percent. The decline was primarily due to a decrease in volume and price, as well as a shift in product mix. The company reported an operating loss of $(5) million versus operating income of $73 million in the three-month period ended April 3, 2011. First quarter 2012 operating loss reflected raw material inflation, lower volumes from softer global demand and product mix shift due to declines in certain higher margin products. Net loss attributable to Momentive Performance Materials of $(65) million compared to a net loss of $(3) million in the three-month period ended April 3, 2011, which reflected the same factors impacting operating loss. Net sales for the Silicones segment were $536 million, compared to $572 in 2011, a decrease of 6 percent. -