Omnova Solutions' First Quarter Income Surges

Fairlawn, OH, March 20, 2012 -- Chemicals firm Omnova Solutions reported net income for the first quarter was $12.7 million, or $0.28 per share, compared to $1.0 million, or $0.02 per share for the first quarter of 2011.

Net sales increased $4.0 million, or 1.5%, to $275.9 million for the first quarter, compared to $271.9 million for the first quarter of 2011.

The sales increase was driven by improved pricing of $24.2 million to cover higher raw material costs.
 
Paper and carpet chemical sales were $86.5 million compared to $87.1 million  a year ago, and were affected by lower year-over-year volumes in both markets.