PolyOne Announces Second Quarter 2011 Financial Results
• Quarterly revenue increased by 11% compared to the same period in 2010
• Earnings per share of $0.30, adjusted earnings per share of $0.31 • Adjusted earnings per share increased 41% over the same period in 2010
• All strategic business platforms achieved double-digit growth in fiscal revenue and operating income for the quarter. Cleveland, USA - August 4, 2011 – PolyOne Corporation (NYSE: POL) today announced fiscal 2011 second quarter revenue as US$768.8 million, an increase of 11% over the same period of 2010 ($692.9 million).
Diluted earnings per share for the second quarter of 2011 were $0.30, and adjusted earnings per share was $0.31, an increase of 41% from the same period last year ($0.22).
“In the second quarter, our fiscal revenue and adjusted earnings per share have reached the highest level in the history of PolyOne Corporation. I am very pleased with this,†said Stephen D, the company's board of directors, president and chief executive officer. Newlin said. “We achieved a year-on-year increase in adjusted earnings in the seventh quarter in a row, and the underlying earnings growth potential of the company’s business is becoming increasingly apparent.â€
Newlin added, “In the current quarter, we continued to shift the portfolio of strategic platforms to high-value-added products and invest in future growth. Our employees, corporate culture and codes of conduct are conducive to implementing our strategy and continuing. Double-digit growth in revenue over the same period last year."
• Earnings per share of $0.30, adjusted earnings per share of $0.31 • Adjusted earnings per share increased 41% over the same period in 2010
• All strategic business platforms achieved double-digit growth in fiscal revenue and operating income for the quarter. Cleveland, USA - August 4, 2011 – PolyOne Corporation (NYSE: POL) today announced fiscal 2011 second quarter revenue as US$768.8 million, an increase of 11% over the same period of 2010 ($692.9 million).
Diluted earnings per share for the second quarter of 2011 were $0.30, and adjusted earnings per share was $0.31, an increase of 41% from the same period last year ($0.22).
“In the second quarter, our fiscal revenue and adjusted earnings per share have reached the highest level in the history of PolyOne Corporation. I am very pleased with this,†said Stephen D, the company's board of directors, president and chief executive officer. Newlin said. “We achieved a year-on-year increase in adjusted earnings in the seventh quarter in a row, and the underlying earnings growth potential of the company’s business is becoming increasingly apparent.â€
Newlin added, “In the current quarter, we continued to shift the portfolio of strategic platforms to high-value-added products and invest in future growth. Our employees, corporate culture and codes of conduct are conducive to implementing our strategy and continuing. Double-digit growth in revenue over the same period last year."