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Omnova Posts Loss for Second Quarter

11:28 AM MDT | June 27, 2007 | Chemical Week Editorial Staff

Omnova Solutions reported a net loss of $9.8 million for its second quarter, compared to net income of $5.3 million in the same year-ago period. Results included debt redemption costs of $12.4 million, as well as restructuring and severance costs of about $100,000. Excluding those items, Omnova would have reported income of $2.7 million, the company says. Sales were up 6%, to $188 million, on improved unit volumes and higher selling prices. Sales were up across both performance chemicals and decorative products, despite a “very weak carpet end-use...

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