OMG Reports Third Quarter Record Net Income
November 6, 2000
OM Group, Inc. (OMG) recently reported record net income and record earnings per diluted share for its third quarter ended September 30, 2000. The producer of value-added, metal-based specialty chemicals and products reported net sales for the period of $233.4 million compared to $132.1 million a year ago, while net income increased to $18.6 million, or $.77 per diluted share, from $14.3 million, or $.59 per diluted share, in the 1999 third quarter. For the nine months ended September 30, 2000, net income increased to $52.2 million, or $2.15 per diluted share, from $41.3 million, or $1.70 per diluted share for the same period in 1999. Net sales were $655.2 million compared to the $369.9 million reported in 1999.