January 24, 2013 9:29:40 AM
FAIRLAWN, Ohio -- Omnova Solutions Inc., the chemical maker, reported a profit in its fourth quarter Tuesday after posting a loss in the same quarter a year ago.
The Fairlawn, Ohio-based company said that it earned $700,000, or 1 cent per share, in the quarter ending Nov. 30. It lost $10.4 million, or 23 cents per share loss, in the same quarter last year.
It said its adjusted earnings came to 7 cents per share for the latest quarter.
Analysts, on average, expected earnings of 13 cents per share, according to a survey by FactSet.
The company said that its total revenue fell 16 percent to $253.9 million from $301.4 million.
The company said that sales at its performance chemicals unit dropped 21 percent to $189.5 million.
Omnova operates s a facility in Lowndes County.