IHS Chemical Week

People & Business :: Earnings/Finance

Omnova Second-Quarter Income Sets Record as Sales Rise

3:59 PM MDT | June 29, 2010 | Vincent Valk

Omnova reported a record second-quarter income of $15.1 million, or 33 cts/share, the company announced today. Income rose 196% from the same period last year on sales that rose 40.4% to $226.4 million. Higher volumes and selling prices drove the sales increase. It was the sixth consecutive quarter of year-on-year earnings growth for the company, according to CEO Kevin McMullen The company's performance chemicals segment recorded a 59.3% year-on-year increase in sales, to $138.6 million. Volumes and prices accounted for most of the rise, as Omnova's customers...

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