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Nova Swings to Profit as Revenue Rises

3:47 PM MDT | May 27, 2010 | Vincent Valk

Nova Chemicals recorded net income of $94 million during the first-quarter of 2010, compared to a net loss of $123 million during the same quarter last year, the company announced today. Revenue for the quarter rose to $1.4 billion during the quarter, from $818 million in the first-quarter of 2009. All segments of the company saw earnings improvements. The company's olefins/polyolefins business unit recorded $185 million in operating income during the first quarter of 2010, compared to a loss of $38 million in 2009. Performance Styrenics' operating loss narrowed...

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