Solutia posts wider fourth-quarter loss

Chemical company Solutia Inc. recently posted a wider fourth-quarter net loss from a year ago, as results took a hit from weak product demand and charges for restructuring and asset write-offs.
The c…

 

Chemical company Solutia Inc. recently posted a wider fourth-quarter net loss from a year ago, as results took a hit from weak product demand and charges for restructuring and asset write-offs. The company reported a net loss of US$ 101 million, or 97 cents per share, compared with a net loss of US$ 84 million, or 81 cents per share, a year earlier. Sales fell to US$ 643 million from US$ 731 million a year ago. Excluding special items, the company reported a loss of 5 cents per share. On that basis, analysts had expected St. Louis-based Solutia, which warned of the loss last month, to post a loss in a range of 8 cents to 4 cents per share with a consensus of 6 cents per share.