PolyOne revenues increase 9%

qiangzi

Wednesday, May 9, 2012
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Cleveland, OH - PolyOne reported $781 million of revenues for the first quarter of 2012, a 9% increase compared to $718.5 million in the first quarter of 2011. Diluted earnings per share totaled $0.22 in the first quarter of 2012 compared to $1.14 in the first quarter of 2011. Adjusted earnings per share increased 12% to $0.29 for the first quarter of 2012, up from $0.26 recorded in the first quarter last year. “I am pleased with our first quarter results, as each of our three strategic platforms reported operating income growth and margin expansion,” said Stephen D. Newlin, chairman, president and chief executive officer. “We overcame expected weakness in European demand to deliver record first quarter adjusted earnings per share, due primarily to growth in North America and Asia and accretion from the ColorMatrix acquisition.” Newlin continued, “This marks the tenth consecutive quarter of double-digit expansion of year-over-year adjusted earnings per share for PolyOne. In addition, during the first quarter we achieved another milestone, as healthcare sales now account for 10% of our consolidated revenues.”