Omnova Solutions Reports Higher Income
Fairlawn, OH, Sept. 30, 2013 -- Chemicals company Omnova Solutions reported third quarter net income of $9.0 million, or $0.19 per share, compared to $6.4 million, or $0.14 per share, a year ago.
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Net sales decreased $27.0 million, or 9.4%, to $261.2 million for the third quarter of 2013, compared to $288.2 million for the third quarter of 2012. The sales decrease was driven by lower volume of $10.0 million, or 3.5%, and reduced pricing of $18.7 million, or 6.5%, partially offset by favorable currency translation effects of $1.7 million.