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Markets :: Basic Chemicals :: Inorganic Chemicals :: Chlor-alkali
PolyOne's Third-Quarter Profit Falls on Special Items and Tax Adjustments
9:16 AM MDT | November 4, 2010 | Lindsey Bewley
PolyOne reported third quarter net income of $1 million (1 ct/share), down 98% from the year-ago quarter. Excluding special items and one-time tax adjustments, PolyOne’s net income doubled, to $27.3 million (28 cts/share), beating analysts’ estimates of 23 cts/share, as reported by Thomson One (New York). Sales rose 24%, to $680.8 million, on a 15% increase in volume and higher selling prices principally associated with raw material cost increases. Operating income for the company's specialty platform climbed 24%, to $24.1 million. The...
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