Solutia Posts Profit and Sales Gains

Solutia reported net income of $68 million in its second quarter, 66% higher than the same period last year. Earnings of 57 cts/share narrowly beat analysts’ estimates of 56 cts/share, as reported by Thomson Reuters (New York). Sales increased 8%, to $543 million. Advanced Interlayers’ adjusted Ebitda advanced 18%, to $52 million. Solutia cited improved selling prices and the addition of the Vistasolar ethylene vinyl acetate photovoltaic encapsulant business, which the company gained in the June 2010 acquisition of Etimex Solar. Performance Films' adjusted...

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