UPDATE: Huntsman Posts Upbeat Q1 Profit

Huntsman

posted a loss in the first quarter. Huntsman posted a quarterly loss of $24 million, or $0.10 per share, versus a year-ago profit of $163 million, or $0.68 per share. Excluding one-time items, it earned $0.19 per share, down from $0.77 per share. Its revenue fell 7.2% to $2.7 billion. However, analysts were expecting a profit of $0.16 per share on revenue of $2.71 billion Its gross margin declined to 12.9% from 18.9%. Huntsman shares closed at $18.68 yesterday.