Omnova Solutions reports fourth-quarter improvement

FAIRLAWN, Ohio (Jan. 10)—Omnova Solutions Inc. reported a net income of $5 million on net sales of $181.8 million in the company's fourth quarter ended Nov. 30, 2001. The earnings total was an improvement on the previous year´s fourth quarter, when the Fairlawn-based firm lost $500,000. Sales for the quarter dropped 5.6 percent from $192.5 million in 2000. For the year, Omnova had a net loss of $6.7 million, compared with earnings of $4.4 million in fiscal 2000. Net sales for 2001 declined 4.7 percent to $737 million.