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Markets :: Specialty Chemicals :: Plastic additives
PolyOne's Income Rises on Increased Sales and Selling Prices
8:14 AM MST | February 3, 2011 | Lindsey Bewley
PolyOne reported fourth-quarter net income of $16.4 million (17 cts/share), up 34% from the year-ago quarter, beating analysts’ estimates of 15 cts/share, as reported by Thomson One (New York). Excluding special items and one-time tax adjustments, PolyOne’s net income nearly quadrupled, to $97.5 million ($1/share). Sales rose 11.8%, to $617.8 million, on a 6% increase in volume and higher selling prices principally associated with raw material cost increases. Operating income for the company's specialty platform climbed nearly 13%, to...
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