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Omnova meets 1Q profit forecasts

BEACHWOOD, Ohio (AP) _ Omnova Solutions Inc. (OMN) on Wednesday reported fiscal first-quarter net income of $3.6 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Beachwood, Ohio-based company said it had profit of 8 cents. Earnings, adjusted for non-recurring gains, came to 5 cents per share.

The results met Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 5 cents per share.

The chemical maker posted revenue of $174.6 million in the period.

Omnova shares have fallen 8 percent since the beginning of the year. The stock has risen 74 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OMN at https://www.zacks.com/ap/OMN

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Keywords: Omnova Solutions, Earnings Report