>>
Home / Knowledge / News / Textiles / Volumes in specialty chemicals up by 14% at OMNOVA

Volumes in specialty chemicals up by 14% at OMNOVA

02
Apr '08
OMNOVA Solutions Inc reported a net loss of $3.0 million, or $0.07 per diluted share, for the first quarter ended February 29, 2008, compared to a net loss of $5.1 million, or $0.12 per diluted share, for the first quarter of 2007. Due to seasonality, the first quarter of the Company's fiscal year is traditionally the weakest.

Net sales increased $25.8 million, to $190.6 million, for the first quarter of 2008 as compared to $164.8 million during the same period a year ago. Contributing to the sales increase in the first quarter of 2008 were improved unit volumes of $13.9 million, sales of $8.1 million representing one month of the Decorative Products Asian operations, favorable pricing of $2.9 million and positive foreign exchange translation of $0.9 million. Excluding the Decorative Products Asian operations, the Company's sales grew $17.7 million or 10.7%.

Effective December 31, 2007, the Company acquired the remaining 49.9% interest of its Decorative Products joint venture companies in China and Thailand for $28 million in cash. Previously, the Company used the equity method of accounting to record its proportionate share of the net income or loss of these Asian operations.

The operating results of the Decorative Products Asian operations are recognized on a one-month lag. Accordingly, for the quarter, the Company recorded two months using the equity method of accounting and one month on a fully-consolidated basis.

Gross profit increased 1.3% to $30.5 million, with a gross profit margin of 16.0%, in the first quarter of 2008 as compared to $30.1 million, with a gross profit margin of 18.3%, in the first quarter of 2007. Cost of goods sold for the first quarter of 2008 increased $25.4 million, to $160.1 million, versus the same quarter last year due primarily to higher volumes of $15.2 million, manufacturing costs of $7.4 million from the Decorative Products Asian operations and higher raw material costs of $5.9 million, partially offset by reduced manufacturing expense of $3.1 million, primarily in North America.


Must ReadView All

Pic: Shutterstock

Textiles | On 24th May 2022

US textile & apparel exports up 13% in January-March 2022

The exports of textiles and apparel from the United States were up by ...

Pic: Shutterstock

Apparel/Garments | On 24th May 2022

As German economy foresees a shrink, Bangladesh's exports may reduce

As the German economy is at the risk of shrinking by 2 per cent this...

Pic: Shutterstock

Textiles | On 24th May 2022

China to initiate steps to keep major economic indicators stable

China will adopt a slew of strong and targeted measures to stabilise...

Interviews View All

Vandana Narang, National Institute of Fashion Technology

Vandana Narang
National Institute of Fashion Technology

Campus placements are low due to lockdowns

Textile Industry, Head honchos

Textile Industry
Head honchos

Ensured payment of fee was least concern for students

Textile Industry, Head honchos

Textile Industry
Head honchos

Led by MMF, Indian apparel exports likely to double in next 3 years

Remy Garson,

Remy Garson

As one of the world’s leading supply chain platforms and lifestyle brand...

Ghatit Laheru,

Ghatit Laheru

When the 2001 tremblor wrecked the Kachchh region of Gujarat throwing many ...

Ahammed Ali Babu,

Ahammed Ali Babu

With its expertise in spinning, knitting, printing and embroidery, Blue...

Karan Bose, Hula Global

Karan Bose
Hula Global

Hula Global, a leading isolation gown manufacturer in India, has been...

Suresh Patel, Non Woven Federation of India

Suresh Patel
Non Woven Federation of India

The Non Woven Federation of India (NWFI), representing the regional...

Kevin Young & Tom Lucas, Web Industries

Kevin Young & Tom Lucas
Web Industries

Web Industries is a precision formatter of nonwoven materials used in baby ...

Shalini Sharma & Shweta Pundir Sharma, Six Yard Story

Shalini Sharma & Shweta Pundir Sharma
Six Yard Story

Six Yard Story is a premium artisanal brand with a focus to bring handloom ...

Alvaro Mars, Label -  Alvaro Mars

Alvaro Mars
Label - Alvaro Mars

Alvaro Mars is designer of his eponymous and a non-binary brand that plays ...

Seema Gujral, Label Seema Gujral

Seema Gujral
Label Seema Gujral

<b>Seema Gujral</b>'s designs for her eponymous label revolve around...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments

ESTEEMED CLIENTS

Etam Group Strategy Hong Kong Limited
Page Industries Limited (Bangalore)
Woolmark Services India Pvt. Ltd.
FULGAR SpA
G-Star Raw C.V.
Tchibo GmbH
Bluestem Global Sourcing Limited
Splash
Sainsbury's Argos Asia Limited
OVS Hong Kong Sourcing Ltd.
DuPont de Nemours, Inc.,
Eastman Chemical Company
Lectra Technologies India Pvt Ltd.
Gokaldas Exports Limited
Kern – Liebers Textile
HYOSUNG CORPORATION INDIA PRIVATE LIMITED
TEXVALLEY MARKET LIMITED
Sateri (Jiujiang) Fiber Co.,Ltd
BIANCA
N9 World Technologies Private Limited
Varner AS Retail
Flainox S.r.l.
The LYCRA Company Singapore  Pte. Ltd
BIMBA ;& LOLA SL
Nihalani Events Management
VNU Exhibitions Asia
Aramark Uniform ;& Career Apparel, LLC
Palexpo SA
Chori Company Limited
Inter Expo Center Ltd.
Jindal Worldwide Limited
Mayer & Cie. GmbH & Co. KG
Arvind Limited
Puma
K AND D ITMACH EXPOSITIONS LLP
Messe Frankfurt Exhibition GmbH
Calvin Klein
BRINKMANN GMBH
Aquarelle Clothing Limited
Abit
Rieter India Private Limited
Midas Clothing Limited
Thai Trade Center
Hela Clothing Pvt Ltd
Italian Trade Commission
Colours India Inc
LC Waikiki
Gap International Sourcing Limited
SUZHOU TUE HI-TECH NONWOVEN MACHINERY CO.,LTD
G.A.S. unternehmenskommunikation gmbh
Comasia Limited
Alison Hayes Romania
IFF Media Ag - International Media Services
T.T. Limited
Decathlon
Lifestyle
Amazon China
Cat Tuong Real Estate Group Joint Stock Company
Messe Duesseldorf
Recron Polyester from Reliance Industries Limited
Datacolor AG Europe
Bluesign Technologies Ag
Coats Digital Limited
SHAHI Exports Pvt Ltd
Newtech Textile Technology Development (Shanghai) Company Limited
Equinox Impex India
NV Michel Van de Wiele
Vianney Textil Hogar S.A. De C.V.
COTTON COUNCIL INTERNATIONAL
Nandan Denim Limited
Haelixa AG
Phong Phu international JSC (PPJ)
Stahl Holdings B.V.,
Zydex Industries
Performance Days
Guess Europe Sagl,
Indo Tex
Jiangsu Yingyang Nonwoven Machinery Company Limited
Babyshop
GIOVANNI BOZZETTO S.p.A.
Truetzschler India Private Limited
Gatsby Africa
Reiter India Private Limited
Karl Mayer Textilmaschinenfabrik GmbH
H. Stoll AG & Company KG
IKEA of Sweden AB
FESPA (Reigate)
Color Service s.r.l.
Rayonese Textile Inc., Division de Culp Inc.
Officina Meccanica Dora Enrico Srl
BIRLA CENTURY A DIVISION OF CENTURY TEXTILES AND INDUSTRIES
Zünd Systemtechnik AG
Taiwan Textile Federation (TTF)
IIGM Private Limited
DyStar India Pvt. Ltd
APLF Limited
Recron Polyester from Reliance Industries Limited
TESCO INTERNATIONAL SOURCING LIMITED
The LYCRA Company Singapore  Pte. Ltd
Groz-Beckert KG
ZAITEX spa
The Top Form Brassiere Manufacturing Company Limited
Restoque S.A.
ITMA Services Pte Ltd
Helly Hansen Far East Ltd
KAS Direct Sourcing
X-Rite Asia Pacific Limited (HK)
China World International Exhibition Company Limited
Thai Acrylic Fibre Company Limited
Applied DNA Sciences Inc
Eurofins BLC Leather Technology Centre Ltd
Lenzing Aktiengesellschaft
Tradewind International Servicing
Deckers Outdoor (Guangzhou) Consultant Co., LTD.
EUROVET ASIA LTD
NITI Aayog
Loris Bellini S.r.l.
BTC Textiles LLC
Infor (Hong Kong) Limited
Permoda(Koaj/Armi/Pronto/Bkul)
KIABI
Under Armour Global Sourcing Ltd
Pt. Peraga Nusantara Jaya Sakti
Aleph Srl
CSGIA(China Screen Printing & Graphic Imaging Association)
EMBEE CORPORATION
Thermore (Far East) Ltd.
International Textile Manufacturers Federation
C;&A Sourcing International Ltd
EPCH
Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)
Itema Weaving (India) Private Limited
UBM China (Shanghai)
Hirdaramani International Export Private Limited
Xtema - Thomas Lebherz Textilmaschinen
Target Corporation (MN)
Lottmann Communications
Gloria Jeans
Copenhagen Fashion Summit
Centric Software
Mesdan SPA
J ;& P Coats
H;&M Hennes ;& Mauritz (Far East) Ltd
Chico’ FAS
USTER
IDH – The Sustainable Trade Initiative
Tommy Hilfiger
Sportswear Company Spa
Vardhman Textile Ltd
GERBER TECHNOLOGY LTD.
Benetton Group
Indofil Industries Limited - Specialty & Performance Chemicals Division
Shima Seiki Mfg. Ltd.
Landmark Group
Lenzing Aktiengesellschaft - India
Esprit Europe Services GmbH
Grasim Industries Limited
TÜYAP IHTISAS FUARLARI A.S.
Brückner Trockentechnik GmbH & Co. KG
Seasalt Limited
PVH Corporation
Groz-Beckert East Asia LLP
Brandix Lanka Limited
Datatex Consulting Srl
Lisa S.P.A.
MAS Active / MAS Kreeda / MAS Bodyline
Istanbul Fuarcilik A.S.
JES MEDIA, INC
International Sourcing Expo Australia
Weitmann & Konrad GmbH & Co. KG
Maceton Limited
GHCL LIMITED
Lacoste (Wanchai)
SYNERGIES HONG KONG LIMITED
THE BOMBAY DYEING ;& MFG.CO. LTD
Kornit Digital Asia Pacific Ltd
Rosset ;& Cia Limited
Saurer Textile Solutions Pvt. Ltd.
Lululemon Athletica Inc
BTSR International S.P.A.
Dow Silicones Corporation
Boardriders Asia Sourcing Limited
Meera Dyestuff Industries
Sportmaster Ltd.
Savio Macchine Tessili S.P.A.
Alix Partners
Shanghai  Aige Exhibition Service Co., Ltd
Marzoli Machines Textile s.r.l.
Desigual - ABASIC, S.A.
Walmart
Tuyap Tum Fuarcilik Yapim A.S.
John Varvatos
TESTEX AG, Swiss Textile Testing Institute
Green Fibre
Huntsman (Singapore) Pte Ltd
Asos
Tory Burch Hong Kong Ltd
CGS Inc.

May 2022

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search