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Fourth Quarter Results
- Revenues increased 6% versus 2011
- Earnings per share of $0.03 includes mark-to-market pension charge and other special items; earnings per share as adjusted of $0.21
- Adjusted earnings per share expands 17% versus $0.18 for fourth quarter 2011
- Increased operating profits in all business platforms
- Announced acquisition of Spartech and completed acquisition of Glasforms, accelerating specialty transformation
Full Year Results
- Revenues increased 4.5% versus 2011
- Earnings per share of $0.80 versus $1.83 in 2011, which included the gain on the sale of our investment in SunBelt
- Adjusted earnings per share of $1.20 increased 18% over $1.02 in the prior year
- Adjusted operating profits increased 22% over prior year
- Record operating margins and operating profits in all three strategic platforms
PolyOne Corporation (NYSE: POL) today reported $679.4 million of revenues for the fourth quarter of 2012, a 6% increase compared to $640.4 million in the fourth quarter of 2011.
Diluted earnings per share totaled $0.03 in the fourth quarter of 2012 compared to $0.13 in the fourth quarter of 2011. Adjusted diluted earnings per share increased 17% to $0.21 for the fourth quarter of 2012, compared to $0.18 in the fourth quarter last year.
Full-year revenues in 2012 increased 4.5% to $3.0 billion, compared to $2.9 billion in 2011. Diluted earnings per share totaled $0.80 for the full year 2012, compared to $1.83 per diluted share in 2011. Adjusted earnings per diluted share for 2012 increased 18% to $1.20 compared with $1.02 reported for 2011.
"I am pleased with our fourth quarter results, as we expanded adjusted EPS by 17% over the fourth quarter of 2011. This is a record fourth quarter with adjusted EPS of $0.21, marking PolyOne's thirteenth consecutive quarter of year-over-year double-digit adjusted earnings per share growth," said Stephen D. Newlin, chairman, president and chief executive officer. "The fourth quarter caps another strong year of performance by PolyOne. For the full year, each of our three strategic platforms achieved record levels of operating income and operating margins, despite recessionary conditions in Europe."