Omnova’s Earnings Rise Despite High Raw Material Costs

Omnova Solutions reported a big rise in third-quarter earnings from continued operations, to $4.5 million, from $1.2 million in the year-ago period. Sales climbed 12.4%, to $21.7 million. Omnova’s performance chemicals unit posted sales up 15.6%, to $126.7 million. Operating profits declined 3%, however, to $7.9 million, due to higher raw material and transportation costs. The company’s decorative products division reported sales up 7%, to $70.1 million, on operating profits down 8%, to $2.3 million. McMullen: Strong sales growth. “We are...

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