UPDATE: Omnova Posts Q4 Profit

Omnova Solutions OMN posted a profit in the fourth quarter. Omnova posted a quarterly profit of $700,000, or $0.01 per share, versus a year-ago loss of $10.4 million, or $0.23 per share. Excluding items, its adjusted earnings from continuing operations declined to $0.07 per share from $0.13 per share. Its sales fell 16% to $253.9 million. However, analysts were expecting earnings of $0.14 per share. Its gross margin rose to 19.1% from 18.5% Omnova shares closed at $7.62 yesterday.