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PolyOne earnings rise on higher sales

4:04 PM MDT | October 24, 2013 | Vincent Valk

PolyOne has reported third-quarter net income from continuing operations of $23.2 million, up 19.6% year-on-year (YOY), with adjusted net income totaling $35.5 million, or 36 cts/share. Adjusted earnings beat analysts’ consensus estimate of 34 cts/share, as reported by Thomson Reuters (New York). Revenues rose 43%, to $1 billion, due to the acquisitions of Spartech and Glasforms. Distribution segment sales were up 8.1% YOY, to $275 million, while segment operating income was roughly flat at $16,6 million. Performance products segment sales were up 12.7%, to...

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