FAIRLAWN, OH - For the second quarter of 2013, OMNOVA Solutions Inc. reported income from continuing operations of $2.6 million or $0.06 per diluted share. Adjusted income from continuing operations for the second quarter of 2013 was $7.1 million, or $0.16 per diluted share, compared to $8.3 million, or $0.18 per diluted share, for the second quarter of 2012. Gross profit margins improved to 21.2 percent in the second quarter of 2013 as compared to 19.5 percent a year ago, due to favorable product mix and cost reduction actions. Sequential results were significantly better than the first quarter of 2013, as second-quarter 2013 net sales grew $19.1 million, adjusted segment operating profit increased $6.6 million, and adjusted segment operating profit margins improved by 200 basis points to 8.7 percent as compared to the first quarter of 2013.
As a result of anticipated sequential improvement in the second half of 2013, the company forecasts that full-year 2013 adjusted income from continuing operations is expected to exceed 2012 results.