Jan 22, 2009. /Lesprom.com/. Koppers Holdings Inc., which makes carbon compounds and wood treating products, reduced its 2008 guidance, citing deteriorating demand and prices, the company said in a statement received by Lesprom Network. Koppers now expects growth in adjusted earnings per share of 25% to 29%, down from a prior forecast of 37% to 41%. Unadjusted 4Q operating income is estimated to be $0-2 million and will result in a net loss from continuing operations of $12-14 million for the quarter. Net income for the quarter, including the gain on the sale of Monessen, is expected to be $72-74 million. Incremental charges totaling approximately $17 million have negatively impacted 4Q results. These charges have been added back to the revised guidance. The company's 4Q results have been negatively impacted by volatility in demand and pricing for certain company end-market products, combined with raw material costs that have negatively impacted margins. The volatility in product pricing relates primarily to products that are impacted by petroleum prices, including carbon black feedstocks and phthalic anhydride. 4Q earnings have also been negatively impacted by incremental charges that total approximately $17 million. These charges include approximately $12 million for inventory write-downs to net realizable value and incremental LIFO charges. Additional incremental charges include approximately $4 million of impairment charges for a non-core business in Europe and approximately $1 million of severance charges related to cost reduction initiatives. In addition to the impacts to operating income, the company will change assumptions relating to repatriation of foreign earnings that will negatively impact income tax expense in the 4Q resulting in a higher annual effective tax rate of approximately 46%. The cumulative impact of this adjustment will be reflected in 4Q tax expense. "We have seen our global aluminum, steel, rubber and plasticizer end markets come under increasing distress in recent months, resulting in substantially lower volumes and prices for some of our products," CEO Walter W. Turner said. Koppers, with corporate headquarters and a research center in Pittsburgh, Pennsylvania, is a global integrated producer of carbon compounds and treated wood products.