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Solutia Net Income Rises 15%
10:52 AM MST | January 30, 2012 | Vincent Valk
Solutia reported fourth-quarter net income up 15% year-on-year, to $54 million, on sales up 8%, to $526 million. Adjusted earnings totaled 49 cts/share, 2 cts/share above analysts’ consensus. The increases were due to higher sales volumes and favorable spread between raw material costs and selling prices, offset by higher R&D spending. Fourth-quarter sales in the company’s advanced interlayers segment rose 1% year-on-year, to $225 million. Segment adjusted Ebitda fell 8% to $46 million. Performance films sales were up 15%, to $62 million...
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