Washington, DC, December 30, 2005—According to a filing with the Securities and Exchange Commission, Solutia Inc. reported net income of $35 million for the month of November, swinging from a $21 million net loss for October.
In the filing, the company posted net sales of $233 million for November, up from net sales of $215 million in October.
The company had a $4 million operating loss for November, narrowing from an operating loss of $9 million for October. Net income was helped by $51 million in equity earnings from affiliates, according to the filing.
As of Nov. 30, the company had $130 million in cash on hand, up from the $100 million it reported for October.
Solutia, based in St. Louis, Mo., makes chemical-based materials. The company has been operating under Chapter 11 bankruptcy protection since December 2003.
A company under Chapter 11 bankruptcy protection must submit monthly operating reports to the court overseeing its case. Publicly traded companies in bankruptcy also issue the monthly reports as filings with the SEC.
