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Markets :: Plastics :: PET

PolyOne's Earnings Soar on Increased Volume, Demand

7:56 AM MDT | May 5, 2010 | Lindsey Bewley

PolyOne reported first-quarter net income of $18.4 million, compared to a net loss of $17.7million for the year-ago period. Earnings per share were 19 cts/share, beating analyst estimates of 16 cts/share, as reported by Thomson One (New York).   Sales rose 36%, to $630.4 million, driven by a 27% increase in volume. New business gains and improving demand conditions also boosted earning, PolyOne says. Operating income before special items quadrupled, to $34.4 million. However, the company posted a 94% decline in equity earnings from the company’s...

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