Solutia shows $7 million September operating income

By Caroline Salls

Pittsburgh, Oct. 31 - Solutia Inc. posted September operating income of $7 million on net sales of $245 million, according to its monthly operating report filed Tuesday with the Securities and Exchange Commission.

The figures compare to a $6 million August operating income on net sales of $220 million.

The net loss for September was also $7 million, compared with a $1 million August net income.

The September net loss included $4 million in professional fees and a $3 million income tax expense.

Cash on Sept. 30 was $154 million, up from $95 million at the end of August.

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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