Omnova Solutions' Net Income Surges in Q4

Fairlawn, OH, Jan. 19, 2011 -- Chemicals firm Omnova Solutions reported fourth quarter net income was $81.5 million, compared to $11.1 million in the fourth quarter of 2009.

Earnings per share was $1.80, compared to $0.25 in the fourth quarter of 2009.  

Net sales increased $19.2 million, or 10.2%, to $208.0 million for the quarter, compared to $188.8 million for the fourth quarter of 2009. 

The increase in net sales was primarily the result of improved volumes of $4.0 million and higher selling prices of $14.6 million. 

Net Income for 2010 was $107.9 million, or $2.40 per share, compared to $26.2 million the previous year.