Markets :: Specialty Chemicals :: Paints and Coatings
Omnova Earnings Jump on Lower Raw Material Costs
11:42 AM MDT | September 26, 2012 | Vincent Valk
Omnova’s fiscal third-quarter net income jumped to $6.4 million, from $400,000 in the year-ago quarter, on lower raw material costs and a favorable sales mix. Adjusted earnings from continuing operations—excluding special items, acquisitions, and divestitures—rose 58% year-on-year (YOY), to $7.1 million. Omnova's fiscal third-quarter ended on August 31. Sales fell 8.5% YOY, to $288.2 million, on falling prices and volumes. Gross profit increased 14.7%, to $57.8 million, on lower raw material costs and a favorable sales mix. "The...
This information is only available to Chemical Week subscribers.
Forgot your user ID or password?
Not an IHS Chemical Week member yet?
Here's why you should be:
100% Satisfaction Guarantee