Omnova's Profits Rise but Decorative Products Unit Lags

摘要

Omnova Solutions reported net income of $81.5 million for its fiscal fourth quarter ended November 30, 2010, compared to $11.1 million in the same period of 2009. The 2010-quarter included noncash income of $90.5 million primarily related to the reversal of a tax valuation allow- ance, as well as a $13.7-million charge related to its acquisition of Eliokem. Sales rose 10%, to $208 million, on higher volumes and sell- ing prices.