26.07.2011 • News

Solutia Q2 Profit Rises

Solutia Monday reported second-quarter net income attributable to the company of $68 million or $0.56 per share, compared to $41 million or $0.34 per share last year.

Adjusted earnings for the quarter increased to $69 million or $0.57 per share, compared to $53 million or $0.44 per share in the prior year period. On average, six analysts polled by Thomson Reuters expected earnings of $0.56 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter grew 8% to $543 million from $502 million in the same period last year. Looking forward, the company maintained its adjusted earnings guidance range of $2.10 to $2.25 for the full year. Analysts currently expect $2.21 per share for the full year.

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