OM Group Swings To Profit In Q4

(RTTNews) - OM Group, Inc. (OMG), a provider of specialty chemicals, advanced materials and technologies, Thursday reported a profit for the fourth quarter, reflecting lower costs, despite a decrease in Sales.

The company reported profit of $17.2 million, or $0.54 per share, compared with a loss of $33.9 million, or $1.07 per share, a year earlier.

Net sales declined to $270.5 million from $317.2 million a year earlier.

For the three months to December, cost of goods sold fell to $215.9 million from $290.7 million a year earlier.

The company also reported full-year 2013 loss of $84 million, or $2.66 per share, compared with the prior-year loss of $38.7 million, or $1.22 per share. Annual net sales totaled $1.157 billion, which compares with $1.544 billion in 2012.

Further, the company announced a quarterly cash dividend of $0.075 per share, payable by March 7, on record February 24.