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PolyOne announces second quarter 2011 results

PolyOne announces second quarter 2011 results
PolyOne Corporation has reported revenues of $768.8 million for the second quarter of 2011, an 11% increase compared to revenues of $692.9 million in the second quarter of 2010.

Diluted earnings per share totaled $0.30 in the second quarter of 2011, compared to $0.50 per diluted share in the second quarter of 2010. For the second quarter of 2011, adjusted earnings per share increased 41% to $0.31 from $0.22 recorded in the second quarter of 2010.

“I am pleased with our second quarter results, as we are reporting the highest level of quarterly revenue and adjusted earnings per share in PolyOne history,” said Stephen D. Newlin, chairman, president and chief executive officer. “The underlying earnings growth potential of our business is becoming increasingly evident as this marks the seventh consecutive quarter of increased year-over-year adjusted profits.”

Newlin added, “During the quarter, we continued to reposition our revenue mix within each platform toward higher value products, and we invested for future growth. We have the right people, culture and discipline to execute our strategy and continue delivering year-over-year double-digit earnings expansion.

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PolyOne

PolyOne is the provider of specialized polymer materials.