FAIRLAWN, OH - Omnova Solutions Inc. said sales of its decorative laminate products increased more than 10% in the second quarter, compared to the same time frame last year.
Omnova Solutions, a chemical maker and supplier of decorative and functional surfaces, including laminates for the wood products industry, reported income of $6.9 million from continuing operations for the second quarter, down 1.4% from Q2 of 2011.
Omnoova's Decorative Products Division posted total sales of $69.6 million in Q2, up 3.4% from the same time frame a year ago. Laminates and performance films sales were $36.4 million of the division's total. Omnova said laminate sales increased more than 10%, driven by stronger volume in furniture, flooring and retail store fixture products. During Q2, Omnova said received new laminate orders from a large national retailer for store fixture and display applications.
"The second quarter 2012 financial results were solid, considering the weak global economy and higher raw material costs," said Kevin McMullen, Omnova Solutions chairman and CEO. "The Company continued to generate positive cash flow during the quarter and increased our cash balances $9 million to over $133 million."
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