FAIRLAWN, Ohio (Jan. 11)—Closing out on its first full year as an independent company, Omnova Solutions Inc. recorded a net loss of $500,000 in the fourth quarter ended Nov. 30 compared to a profit of $6.8 million in the like period last year. Sales fell 2 percent to $192.5 million from $197.4 million in the period. Omnova attributed the earnings loss to high raw materials cost and a slowing economy. For the year, net earnings fell more than eightfold to $4.4 million from $34.4 million last year. Sales rose 1 percent to $773.3 million from $767.4 million last year.
Omnova´s records loss in fourth quarter
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