OMNOVA Solutions Inc (NYSE:OMN) reported on Thursday that profit in fiscal second-quarter moved up 13% as the company eked out bigger margins, masking a drop in revenue.
The building-materials manufacturer Omnova announced a profit of $7 million or 15 cents per share during the three months period ended May 31, high from $6.2 million or 14 cents per share in previous year.
Thomson Reuters analysts survey anticipated earnings of 14 cents per share. The company reported that revenue moved down 1.7% to $307.5 million.
Omnova Solutions reported that gross margin extended to 19.5% from 19.3%. Interest and income-tax expenses moved down in the previous quarter.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. RPM International Inc. (NYSE:RPM) increased +1.09% to settle at $26.86, PPG Industries, Inc. (NYSE:PPG) moved up +0.02% to end at $103.50 while The Valspar Corporation (NYSE:VAL) jumped +4.91% to finish on Thursday at $51.29.
OMNOVA Solutions Inc. (NYSE:OMN) last session volume of 430,236.00 shares was higher than its average volume of 222,459.00 shares. The stock after opening at $7.47 hit high price of $7.47 and then closed at $7.34 by scoring -4.30%.
The liquidity measure in recent quarter results of the company was recorded 2.33 as current ratio and on the other side the debt to equity ratio was 3.27 and long-term debt to equity ratio also remained 3.19. The Company had total cash at hand $118.60 million and a book value per share as $3.02 in the most recent quarter.
The stock price volatility was 5.33% for a week and 5.25% for a month as well as price volatility’s Average True Range for 14 days was 0.38 and its beta remained 2.33.
OMN generated revenue of 1.21 billion in the following twelve months and earned $25.50 million. The Company showed a negative 2.15% in the net profit margin and as well as in its operating margin which remained 3.33%. Company’s annual sales growth for the past five year was 11.43%.
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