Solutia amends September results, now shows a $1 million profit

By Jeff Pines

Washington, Nov. 8 - Solutia Inc. said the reversal of an asset impairment charge turned the bankrupt chemical company's financial results for September to positive territory, with a $1 million gain for the month, instead of a previously reported loss.

Solutia filed the amended results with the U.S. Bankruptcy Court for the Southern District of New York on Friday.

Total net sales for September were $169 million operating income was $15 million.

For the nine-month period ended Sept. 30, Solutia posted a $234 million loss on sales of $1.64 billion. The operating loss was $93 million.

Cash on Sept. 30 totaled $34 million.

St. Louis-based Solutia filed for bankruptcy on Dec. 17, 2003. Its Chapter 11 case number is 03-17949.

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