* Q1 EPS $0.17 vs est $0.10
* Net sales up 15 pct to $183.9 mln
* Shares jump 8 pct after market
March 24 Omnova Solutions Inc (OMN.N) posted a
first-quarter profit that raced past market estimates as the
chemical maker benefited from improved volumes and higher
selling prices, sending its shares up 8 percent.
"After spending several years improving our cost structure
in the face of reduced market demand, we expect to have strong
operating leverage moving forward as volumes continue to
outpace last year's levels," Chief Executive Kevin McMullen
said in a statement.
For the quarter, net income was $7.8 million, or 17 cents a
share, compared with a net loss of $0.1 million, or breakeven
per share, in the year-ago quarter.
Analysts on average had expected the company to earn 10
cents, according to Thomson Reuters I/B/E/S.
Net sales rose about 15 percent to $183.9 million versus
market expectations of $179.0 million.
First-quarter volumes rose about 12 percent to $18.7
Shares of the company rose 8 percent to $8.0 after the
bell. They closed at $7.40 Wednesday on the New York Stock
(Reporting by Krishna N. Das in Bangalore; Editing by