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Omnova earnings improve on stronger product mix

2:13 PM MST | January 21, 2014 | Robert Westervelt

Omnova Solutions reported net income of $7.9 million, a significant improvement from year-ago results of $700,000. Adjusted earnings were 12 cts/share, up from 6 ct/share in the year-ago quarter, and in line with analyst estimates. Profit improved due to favorable product mix and cost-reduction actions. Revenues, however, fell 7.7%, to $234.4 million as result of lower pricing, down 6.4%, and lower volumes, down 1.5%. “Financial results in the fourth quarter [were] led by stronger results in engineered surfaces, which had a favorable mix of...

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