Omnova Solutions Reports Lower Income

Fairlawn, OH, Sept. 28, 2011 -- Specialty chemicals firm Omnova Solutions reported third quarter net income was $400,000 compared to $3.5 million in the third quarter of 2010.

Earnings per share was $0.01 compared to $0.08 in the third quarter of 2010.

Net sales increased $103.2 million, or 45.3%, to $331.1 million for the quarter, compared to $227.9 million for the third quarter of 2010.
 
The sales improvement was driven by $86.1 million of revenues from the Eliokem acquisition and price increases for Omnova's legacy products.