Picked up some POL yesterday. The traditional way. By way of land line phone. Nice earnings excluding special charges, in light of uncertainty in feedstocks.
CA venture with Olin and OXY vinyls are throwing off cash. Thought Olin might try and buy the rest awhile back. Pol now has a plant in China. I'm impressed it's making money in these uncertain times. Even though the ventures are what's making the bulk.
biz.yahoo.com
PolyOne Posts 4Q Profit of $21.7 Million
Tuesday February 7, 6:39 pm ET
PolyOne Posts Fourth-Quarter Profit of $21.7M on Higher Sales Despite Higher Raw Materials Costs
CLEVELAND (AP) -- Plastics company PolyOne Corp. said Tuesday it swung to a profit in the fourth quarter on higher sales, despite higher raw materials costs.
Earnings were $21.7 million, or 24 cents per share, in the quarter, compared with a loss of $13.6 million, or 15 cents per share, during the same period a year earlier.
Results included gains totaling 9 cents per share in the latest period, and charges of 18 cents per share in the prior-year period.
Sales were $606.8 million, up 11 percent from $544.5 million.
Analysts, on average, were looking for earnings of 7 cents per share on sales of $547 million, according to a Thomson Financial poll. Analysts typically exclude one-time items from their estimates.
For the full year, the company earned $46.9 million, or 51 cents per share, compared with $23.5 million, or 26 cents per share, a year earlier. Sales rose 8 percent to $2.45 billion from $2.27 billion.
"We entered the fourth quarter facing significant raw material cost increases and potential supply disruptions as well as uncertainty surrounding our vinyl business joint ventures," said William F. Patient, chairman and chief executive, in a statement. "Our results clearly demonstrate that this organization stepped up to these challenges. We also managed our cash resources effectively and reduced our debt during the quarter."
Shares closed down 21 cents, or 3 percent, at $7.36 on the New York Stock Exchange.
polyone.com |
