Solutia Inc. has reported a second quarter loss of $21 million, or 20 cents per share, on net sales of $611 million. This compares to
income from continuing operations for the second quarter of 2002 of $11
million, or 10 cents per share, on net sales of $585 million.
Solutia's operations for the second quarter versus the year-ago period were negatively impacted by elevated raw material and energy costs, increased
interest expense and severance costs associated with workforce reductions,
offset to some extent by higher sales prices, favorable currency exchange
rate fluctuations and improved manufacturing operations, according to the company.