Omnova Solutions Net Income Falls

Fairlawn, Ohio, January 14, 2008--OMNOVA Solutions Inc. reported income from continuing operations of $3.4 million, or 8 cents per share, for the fourth quarter, compared to a loss of 2 cents per diluted share for the fourth quarter of 2006.

Net income was $3.7 million compared to net income of $17 million for the fourth quarter of 2006. Included in the fourth quarter of 2006 is a gain of $18.2 million, or $0.43 per share related to the divestiture of the Building Products business.

Net sales increased $19.5 million, to $195.9 million, for the fourth quarter of 2007 as compared to $176.4 million during the same period a year ago.

"We are encouraged by the year-over-year earnings expansion overall, as well as the sales and volume growth in both Performance Chemicals and Decorative Products, despite what continues to be a challenging operating and economic environment," said CEO Kevin McMullen.

"Continued raw material inflation and higher transportation costs during the quarter put downward pressure on gross profits. We will continue aggressive actions to mitigate these higher costs through productivity and pricing initiatives.