Solutia posts $102 million 2006 operating income

By Caroline Salls

Pittsburgh, March 6 - Solutia Inc. reported a $102 million operating income for 2006 on $2.905 billion in net sales, according to a 10-K filing with the Securities and Exchange Commission.

The figures show improvement over a $48 million 2005 operating income on net sales of $2.759 billion.

According to the filing, the 2006 operating income includes $7 million in net restructuring gains and other items, compared to $14 million in net restructuring losses and other items for 2005.

The net income for 2006 was $11 million, up from an $8 million 2005 net income.

Cash and cash equivalents on Dec. 31 were $150 million, compared with $107 million on Dec. 31, 2005.

Solutia, a St. Louis-based manufacturer and provider of performance films, specialty chemicals and an integrated family of nylon products, filed for bankruptcy on Dec. 17, 2003 in the U.S. Bankruptcy Court for the Southern District of New York. Its Chapter 11 case number is 03-17949.

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