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Markets :: Plastics :: PET

PolyOne's Income Rises on Strong Margins, Specialty Platform

7:55 AM MST | November 4, 2009 | Lindsey Bewley

PolyOne reported third-quarter net income of $49.6 million (53 cts/share), up compared to a net loss of $5.6 million for the year-ago quarter. Excluding special items, PolyOne's net income increased 18%, to $13.4 million (14 cts/share), beating analysts’ estimates of 5 cts/share, as reported by Thompson Reuters (New York). Sales decreased 25%, to $548.8 million, on low volumes.   “Third quarter earnings per share before special items and tax items surpassed the third quarter of last year as gross margin expansion offset the impact of volume...

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