OM Group Posts Q4 Losses

摘要

Om Group Inc. reported a fourth-quarter net loss of $32.72 million, compared to a $47.99 million net income in 2007.rnIncluded in the 2008 period was a non-cash inventory charge of $26.9 million, a non-recurring income tax benefit of $21.5 million and a non-cash goodwill impairment charge of $8.8 million.rnFor the year, net income dropped to $135 million, compared to $249.9 million last year.rnNet sales for the quarter fell 4% to $296.6 million, on lower volume, a drop in metal resale and lower pricing in Advanced Materials. Year-over-year, net sales climbed 70% to a record $1.7 billion. The increase was influenced by higher product selling prices, acquisitions, cobalt metal resale and growth in sales volume.