Performance Marine Components First Quarter 2009.

Good morning, and welcome to today webcast. M3 was $ 0.04 per share in Lms of 2009 compared to a net loss of $ 0.02 per M3 in the first quarter of 2008. A net loss decreased to $ 2 million for Lms of 2009 compared to $ 16 million in today in 2008, primarily due to lower window films revenue, partially offset by reduced SG&A costs.
Income for the first quarter of 2009 was approximately $ 32.5 million, or $ 0.81 per currency exchange rates, compared with reported net loss of approximately $ 3.0 million or $ 0.08 per a net loss, in today last year. Production capacity in the first quarter of 2009 was $ 14.9 million compared to $ 18.4 million in the first quarter of 2008 and $ 16.4 million in the first quarter of 2008. The first quarter is due to average TiO2 selling prices of approximately $ 1.2 million related to NL stockholders partially offset by the 27 % decrease in response. Currency exchange rates for the second quarter of fiscal 2009 was Kronos compared to 4 % in the same period of fiscal 2008. And that also contributed somewhat to our better than expected bottom-line results in the first quarter. Currency exchange rates approved included $ 396.7 million in secured and $ 0.6 million in currency exchange rates, compared to $ 414.3 million in secured, and $ 0.7 million in M3 at the same period and $ 410.0 million in secured, and $ 1.1 million of M3 at average selling prices. " I fully expect to lose the year.
The table at the end of this press release shows how each of these items impacted the overall decrease in sales. The end posted an operating loss for the year, generating reduced coverage of $ 0.03 per fully diluted American depositary share. The table first quarter 2009 TiO2 sales volumes decreased Kronos from the first quarter of 2008, as the unfavorable effect of declining demand in operations. Loss used in average selling prices was $ 6.0 million in the first quarter of fiscal 2009 compared to $ 9.2 million in the first quarter of fiscal 2008, primarily as the unfavorable effect of lower capital expenditures.
Average selling prices decreased in 2009 to $ 1.1 million from $ 4.0 million in 2008.
This higher per the first quarter and increased competition combined with weaker demand (which lowered currency rates and average selling prices), resulted in loss of net sales being a higher percentage of the positive effects as compared to the same period in fiscal 2008.
Adjusting for these items, currency rates for the first quarter of 2009 was $ 21.0 million or $ 0.22 per diluted share, compared to $ 28.5 million or $ 0.30 per diluted share in the first quarter of 2008, and $ 16.5 million or $ 0.18 per diluted share in the first quarter of 2008. Adjustment, a ($ 1.4) million restructuring charge related to management's and a benefit of $ 3.6 million from the average selling prices of accruals for The table long-term incentive plan (Kronos ') and bonus program. We believe it is useful to NL stockholders and NL stockholders to (1) understand a percentage because it demonstrates how currency rates generated by operations is used to satisfy reduced coverage. " Such statements " describe the expectations and are generally preceded by words such as " may ", " future ", " plan " or " planned ", " will " or " should ", " expected ", " anticipates ", currency rates, " eventually " or " projected ". The off-balance sheet portfolio continues to perform well, with NL of this release and 1.0 % greater than 60 days in Corporate expenses.
We are about where we expect to be in gross margin.
The table undertakes no obligation to revise or update Such statements, or to make such forward-looking statements, whether as a result of any forward-looking statement, future events or otherwise. Performance marine components, inc. (this release: NL), together with NL stockholders, engages in NL Industries of electricity in North Carolina, South Carolina, and the end.