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N E W S B U L L E T I N
RE: Headwaters Incorporated
10653 S. River Front Parkway, Suite 300
South Jordan, UT 84095
Phone: (801) 984-9400
FOR FURTHER INFORMATION
AT THE COMPANY:
Vice President of Investor Relations
November 4, 2009
HEADWATERS INCORPORATED ANNOUNCES RESULTS
FOR FOURTH QUARTER AND FISCAL 2009
Balance Sheet Restructuring Completed
Total Fiscal 2009 Revenue of $667 Million
Fiscal Year EBITDA of $105 Million Consistent with Forecast
SOUTH JORDAN, UTAH, November 4, 2009 (NYSE: HW) HEADWATERS INCORPORATED, a diversified growth company dedicated to improving sustainability by transforming underutilized resources into valuable products, today announced results for its fourth quarter and fiscal year ended September 30, 2009. Total revenue for the fourth fiscal quarter of 2009 was $187.6 million, compared to $235.1 million for the September 2008 quarter. Gross profit was $50.1 million in the September 2009 quarter as compared to $64.1 million in the September 2008 quarter. The net loss in the September 2009 quarter was $(19.7) million, or $(0.40) per diluted share, which compares to a net loss of $(184.1) million or $(4.46) per diluted share in the September 2008 quarter. The September 2009 quarter includes a pre-tax loss of $22.4 million related to the Companys convertible debt for equity exchange, and the September 2008 quarter includes a goodwill impairment charge of $205.0 million.
Completed balance sheet restructuring creating up to $140 million of liquidity and extending debt maturities
The following information was filed by Headwaters Inc (HW) on Wednesday, November 4, 2009 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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