EASTMAN CHEMICAL CO. 8-K FOR PERIOD ENDING 03/31/06 DATED 04/27/06
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15 (d) of the Securities and Exchange Act of
1934
Date
of report (Date of earliest event reported):
April 27,
2006
EASTMAN
CHEMICAL COMPANY
(Exact
Name of Registrant as Specified in Its Charter)
|
|
|
|
|
Delaware
|
|
1-12626
|
|
62-1539359
|
(State
or Other Jurisdiction of
|
|
(Commission
File Number)
|
|
(IRS
Employer Identification No.)
|
Incorporation)
|
|
|
|
|
|
|
|
200 South
Wilcox Drive, Kingsport, TN
|
|
37660
|
(Address
of Principal Executive Offices)
|
|
(Zip
Code)
|
(423) 229-2000
(Registrant’s
Telephone Number, Including Area Code)
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see
General
Instruction A.2. below):
|
o
|
|
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
|
|
|
|
|
|
o
|
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
|
|
|
|
|
o
|
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
|
|
|
|
|
|
o
|
|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
|
EASTMAN
CHEMICAL COMPANY - EMN
|
|
April
27, 2006
|
Item
2.02 Results of Operations and Financial Condition
On April
27, 2006, the registrant publicly released its financial results for first
quarter 2006. The full text of the release is furnished as Exhibit 99.01
to this
Form 8-K, and is incorporated herein by reference. This information shall
not be
deemed “filed” for purposes of Section 18 of the Securities Exchange Act of
1934, as amended (the “Exchange Act”), or incorporated by reference in any
filing under the Securities Act of 1933, as amended, or the Exchange Act,
except
as shall be expressly set forth by specific reference in such a filing.
This
Form
8-K includes the following non-GAAP financial measures:
Eastman
Chemical Company Operating Earnings, Earnings Before Income Taxes, Net Earnings
and Net Earnings Per Diluted Share excluding: asset impairments and
restructuring charges, other operating income, and net deferred tax benefit
related to sales of certain businesses, product lines, and assets in the
CASPI
segment.
Eastman’s
management believes that the asset impairments and restructuring charges,
net
deferred tax benefit, and other operating income do not reflect ongoing business
results. However, management believes that these items are indicative of
the
performance of certain businesses and product lines, results of continuous
efforts to reduce costs, and results of other actions to improve the
profitability of the company. Management believes that investors can better
evaluate and analyze historical and future business trends if they also consider
the reported results without the identified items. Management utilizes corporate
earnings and operating results excluding the identified items in the measures it
uses to evaluate corporate and segment performance and in determining certain
performance-based compensation. These measures are not recognized in accordance
with generally accepted accounting principles (GAAP) and should not be viewed
as
alternatives to the GAAP measures of performance. Table 5 in the accompanying
first-quarter 2006 financial tables reconciles operating earnings, earnings
before income taxes, net earnings and net earnings per diluted share on a
GAAP
basis, as reflected in Eastman’s Consolidated Statements of Earnings, to
operating earnings, earnings before income taxes, net earnings and net earnings
per diluted share excluding asset impairments and restructuring charges,
other
operating income, and net deferred tax benefit.
EASTMAN
CHEMICAL COMPANY - EMN
|
|
April
27, 2006
|
Item
9.01 Financial Statements and Exhibits:
(c)
Exhibits
The
following exhibit is furnished pursuant to Item 9.01:
99.01
Public release by the registrant on April 27, 2006 of first quarter
2006 financial results.
EASTMAN
CHEMICAL COMPANY - EMN
|
|
April
27, 2006
|
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned, hereunto
duly authorized.
|
|
Eastman
Chemical Company
|
|
|
By: /s/
Curtis E. Espeland
Curtis
E. Espeland
Vice
President and Chief Accounting Officer
|
|
|
Date: April
27, 2006
|