Solutia Inc, the US-based performance films producer, reported fourth quarter 2000 net income of US$ 12 million on net sales of US$ 731 million. This compares with net income for fourth quarter 1999 o…
Solutia Inc, the US-based performance films producer, reported fourth quarter 2000 net income of US$ 12 million on net sales of US$ 731 million. This compares with net income for fourth quarter 1999 of US$ 51 million on net sales of US$ 736 million. For the year ended 31 December 2000, Solutia reported net income of US$ 123 million, on net sales of US$ 3.2 billion, excluding US$ 74 million of net after tax charges. This compares to net income of US$ 246 million on net sales of US$ 2.8 billion in 1999, excluding a US$ 40 million after tax charge. Solutia“s performance films segment“s net sales for the fourth quarter of 2000 decreased 24% compared to the same period of 1999. Excluding the polymer modifiers business, which was sold during the third quarter of 2000, the segment“s sales decreased 7% on a year-over-year basis, due to the impact of the devaluation of the euro in relation to the US dollar.