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RE: Headwaters Incorporated
10653 S. River Front Parkway, Suite 300
South Jordan, UT 84095
Phone: (801) 984-9400
FOR FUTHER INFORMATION
AT THE COMPANY:
Vice President of Investor Relations
AT FINANCIAL RELATIONS BOARD:
NOVEMBER 4, 2008
HEADWATERS INCORPORATED ANNOUNCES RESULTS
FOR FOURTH QUARTER AND FISCAL 2008
Total Fiscal 2008 Revenue of $886 Million
Total September Quarter Revenue of $235 Million
2008 EPS of $0.60 Excluding Goodwill Impairment
SOUTH JORDAN, UTAH, NOVEMBER 4, 2008 (NYSE: HW) HEADWATERS INCORPORATED today announced results for its fourth quarter and fiscal year ended September 30, 2008.
Highlights for the quarter and fiscal year included:
Clean coal sales were 10 times greater than September 2007 quarter and 37% higher than June 2008 quarter
Two additional clean coal facilities were put into operation during the quarter
2008 CCP revenue grew by 2.3%
Reduced senior debt and revolver by $45 million in the September quarter
Fiscal 2009 forecasted earnings per share growth of 159% to 252% over fiscal 2008
2008 Results Excluding Unusual Items
Unusual items that occurred during fiscal 2008 include expiration of Headwaters Section 45K business and a goodwill impairment charge. Operating results adjusted for these items are shown in the attached Condensed Consolidated Statements of Operations.
The following information was filed by Headwaters Inc (HW) on Tuesday, November 4, 2008 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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