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People & Business :: Earnings/Finance

Omnova Lowers Full-Year Earnings Outlook

7:48 AM MDT | August 31, 2011 | Nancy Seewald

Omnova Solutions says it has lowered its full-year adjusted earnings estimate due to “a deceleration in the global economy in the third quarter and rapid escalation of raw material costs to unprecedented highs.” Omnova now expects earnings for its fiscal year ending November 30 to be 40 cts-44 cts/share, compared with its prior guidance of 60 cts/share. The company reported adjusted earnings of 88 cts/share in fiscal 2010. "The global economy has recently slowed and become more uncertain and, as a result, demand across many Omnova markets has...

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