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People & Business :: Earnings/Finance
PolyOne Sales Increase, Citing Growth from ColorMatrix Acquisition
7:41 AM MDT | August 2, 2012 | Lindsay Frost
PolyOne reported an increase sales and a drop in earnings for the second quarter 2012, citing margin expansion in North America and Asia and growth from its ColorMatrix acquisition. Net earnings were $24.6 million, down 14% from the year ago quarter with earnings per share falling to 27 cts/share. Adjusted earnings, excluding special items and tax adjustments, grew 12% to $33.5 million. Reported adjusted were 37 cts/share, beating analyst estimates of 33 cts/share, according to Thompson Reuters (New York). Revenues of $792 million are a 3% increase year-on-year...
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