PolyOne Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2013; Provides Earnings Guidance For the Year 2014 and 2015
January 28, 2014 at 04:15 pm
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PolyOne Corporation reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2013. For the quarter, the company reported, sales of $923.6 million against $651.0 million a year ago. Operating income was $48.7 million against $13.3 million a year ago. Income from continuing operations before income taxes was $33.6 million against loss from continuing operations before income taxes of $1.1 million a year ago. Net income from continuing operations was $20.6 million or $0.22 per diluted share against $0.1 million or $0.00 per diluted share a year ago. Net income was $24.6 million against $3.0 million a year ago. Net income attributable to PolyOne common shareholders was $24.6 million or $0.25 per diluted share against $3.1 million or $0.03 per diluted share a year ago. Adjusted net income was $25.6 million or $0.26 per diluted share against $15.9 million or $0.18 per diluted share a year ago.
For the year, the company reported, sales of $3,771.2 million against $2,860.8 million a year ago. Operating income was $231.5 million against $137.5 million a year ago. Income from continuing operations before income taxes was $151.0 million against $83.3 million a year ago. Net income from continuing operations was $92.9 million or $0.97 per diluted share against $53.2 million or $0.59 per diluted share a year ago. Net income was $242.7 million against $71.8 million a year ago. Net income attributable to PolyOne common shareholders was $243.8 million or $2.53 per diluted share against $71.9 million or $0.80 per diluted share a year ago. Net cash provided by operating activities was $109.0 million against $106.9 million a year ago. Capital expenditures were $76.4 million against $57.4 million a year ago. Adjusted net income was $126.6 million or $1.31 per diluted share against $89.5 million or $1.00 per diluted share a year ago. Full year revenue in 2013 was 32% higher than 2012, primarily driven by the acquisitions of Spartech and Glasforms.
The company expects another record year in 2014 with strong double-digit adjusted earnings per share growth.
The company reaffirm expectation to deliver $2.50 in adjusted earnings per share in 2015.
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 Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2013; Provides Earnings Guidance For the Year 2014 and 2015
AVIENT CORPORATION 
