Omnova Solutions reported significantly higher sales for its fiscal year ending Nov. 30.
But the Fairlawn specialty chemicals company reported Friday a loss of $2.8 million, or 6 cents per share, on revenue of more than $1.2 billion.
A year ago, Omnova earned $107.9 million, or $2.42 a share, on revenue of $781.7 million.
For the fourth quarter ending Nov. 30, Omnova said it lost $10 million, or 23 cents per share. The quarter included a loss from discontinued operations of $16.7 million.
Omnova executives said the company had record operating profit for the year, taking into account one-time factors. Sales were helped with the Eliokem acquisition a year ago.
Fourth-quarter sales rose $111.1 million to $301.4 million, up 58 percent from 2010.
Shares on Friday fell 31 cents to $5.16. Shares are up 11.9 percent from Jan. 1 and down 30.6 percent from a year ago.
Jim Mackinnon can be reached at 330-996-3544 or firstname.lastname@example.org.