(Corrects with full company's quarterly results, not just
July 30 Eastman Chemical Co posted a 19
percent drop i n quarterly profit on Monday as demand slipped for
specialty plastics and the company spent heavily to integrate
For the second quarter, the company posted net income of
$ 1 79 million, or $1.26 per share, compared with $ 2 20 million, or
$1.51 per share, in the year-ago quarter.
Revenue fell 1.7 percent to $1.85 billion.
Earlier this month, Eastman completed its $3.4 billion
buyout of specialty chemicals maker Solutia Inc.
Eastman's stock has jumped 31 percent so far this year,
closing Monday at $51 per share.
(Reporting by Ernest Scheyder; Editing by Gary Hill)