PolyOne Corp.'s (POL) reported a third-quarter net income of $49.6 million or $0.53 per share compared with a loss of $5.6 million or $0.06 per share in the third quarter of 2008.
On a comparable basis, before special items and the tax items noted below, PolyOne reported net income of $0.14 per share in the latest quarter, versus $0.13 per share of income reported for the third quarter of 2008. On average, 7 analysts polled by Thomson Reuters expected earnings per share of $0.05 for the quarter. Analysts' estimate typically excludes one-time items.
The company posted 2009 third quarter revenues of $548.3 million, a 25% decrease compared with $735.1 million last year. Three analysts estimated revenues of $522.40 million for the quarter. The company expects demand to improve and combined with new business gains, it expects 2010 revenues to exceed 2009.
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