IHS Chemical Week

Omnova reports loss

12:01 PM MDT | April 3, 2013

The closing of its wallcovering business, coating fabric manufacturing rationalization and other charges drove Omnova Solutions’ earnings to a $200,000 loss in the quarter ended 28 February, compared to a $13.5 million gain in the year-ago quarter ended 29 February, 2012. Reported adjusted earnings per share of 3 cts/share were lower than analyst estimates of 8 cts/share, according to Thomson Reuters (New York), and include restructuring, severance, manufacturing transition costs and other items which totaled $1.9 million pre-tax. These were primarily related...

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