PolyOne Corporation Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012; Provides Earnings Guidance for the Full Year of 2013
January 29, 2013 at 10:17 pm
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PolyOne Corporation announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported, sales of $679.4 million against $640.4 million a year ago. Operating income was $18.7 million against operating loss of $39.8 million a year ago. Net income attributable to the company's common shareholders was $3.1 against $12.3 million a year ago. Diluted earnings per share were $0.03 against $0.13 a year ago. Adjusted net income was $18.8 million against $16.7 million a year ago. Adjusted EPS was $0.21 against $0.18 a year ago. Income before income taxes was $4.4 million against loss before income taxes of $49.4 million a year ago. Capital investment in the fourth quarter was $24.4 million.
For the year, the company reported, sales of $2,992.6 million against $2,863.5 million a year ago. Operating income was $167.1 million against $233.0 million a year ago. Net income attributable to the company's common shareholders was $71.9 against $172.6 million a year ago. Diluted earnings per share were $0.80 against $1.83 a year ago. Adjusted net income was $108.1 million against $96.1 million a year ago. Adjusted EPS was $1.20 against $1.02 a year ago. Income before income taxes was $113.0 million against $198.7 million a year ago. Net cash provided by operating activities were $106.9 against $72.5 million a year ago. Capital expenditures were $57.4 million against $54.1 million a year ago. Operating income adjusted was $221.0 million against $180.6 million a year ago. Net debt as at December 31, 2012 was $496.9 million against $515.1 million as at December 31, 2011.
The company provided earnings guidance for the full year of 2013. The company is targeting double digit expansion of adjusted earnings per share.
Avient Corporation is a premier formulator of specialized and sustainable materials solutions. The Companyâs products include specialty engineered materials, performance fibers, advanced composites and color and additive systems. The Company operates through two segments: Color, Additives and Inks and Specialty Engineered Materials. The Color, Additives, and Inks segment is a formulator of specialized custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets, as well as specialty inks. Color and additive solutions include a range of colors, special effects and performance enhancing and sustainable solutions. It also provides custom-formulated liquid systems. The Specialty Engineered Materials segment is a formulator of specialty and sustainable polymer formulations, services and solutions for designers, assemblers, and processors of thermoplastic materials across variety of markets and end-use applications.
PolyOne Corporation Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012; Provides Earnings Guidance for the Full Year of 2013