January 31, 2018 / 1:48 PM / 24 days ago

BRIEF-OMNOVA Reports 5.1 Pct Volume Growth In Specialties For Q4 2017 And 3.5 Pct For Full Year 2017

Jan 31 (Reuters) - Omnova Solutions Inc:

* OMNOVA REPORTS 5.1% VOLUME GROWTH IN SPECIALTIES FOR Q4 2017 AND 3.5% FOR FULL YEAR 2017, AS THE COMPANY‘S STRATEGY GAINS MOMENTUM

* Q4 ADJUSTED EARNINGS PER SHARE $0.10

* Q4 LOSS PER SHARE $2.10

* Q4 EARNINGS PER SHARE VIEW $0.14 -- THOMSON REUTERS I/B/E/S

* NET SALES FOR Q4 WERE $186.3 MILLION, APPROXIMATELY EVEN WITH LAST YEAR‘S $187 MILLION

* FOR 2018, CO IS EXPECTING ITS FOURTH CONSECUTIVE YEAR OF GROWTH IN ADJUSTED EARNINGS PER SHARE

* ‍OMNOVA EXPECTS DURING Q1 OF 2018 TO INCUR A ONE-TIME TAX BENEFIT AS A RESULT OF RECENT TAX REFORM​

* OMNOVA SOLUTIONS - DOES NOT EXPECT NEW TAX LAW REGARDING TRANSITION TAX TO HAVE MATERIAL IMPACT ON CO‘S FINANCIALS

* PAPER COATINGS BUSINESS’ 2018 CONTRIBUTION TO PROFITABILITY IS EXPECTED TO DECLINE BY APPROXIMATELY $3 - $4 MILLION

* IN Q4 OF 2017, COMPANY RECORDED NON-CASH CHARGES OF $76 MILLION FOR WRITE DOWN OF DEFERRED TAX ASSETS

* OMNOVA -TAKING INTO ACCOUNT COST REDUCTIONS,PAPER COATINGS BUSINESS’ 2018 CONTRIBUTION TO CO‘S PROFITABILITY EXPECTED TO DECLINE BY ABOUT $3 - $4 MILLION

* BY YEAR END 2018, ANTICIPATE THAT PAPER COATINGS WILL CONSTITUTE APPROXIMATELY 6%-7% OF REVENUE Source text for Eikon: Further company coverage:

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