OMNOVA Solutions Inc. recently announced income from continuing operations of $10.7 million for the first quarter ended February 29, 2012. Net income for the first quarter was $12.7 million, which includes income of $2 million from discontinued operations resulting from a gain on the sale of a discontinued wall covering business of $6 million. This was partially offset by wall covering-related operating losses and transition expenses of $4 million during the quarter.
Net sales increased $4 million, or 1.5%, to $275.9 million for the first quarter of 2012, compared to $271.9 million for the first quarter of 2011. The sales increase was reportedly driven by improved pricing of $24.2 million to cover higher raw material costs and favorable product mix, which was partially offset by volume decreases and unfavorable currency translation effects.