PolyOne (NYSE:POL) reports 4Q16 earnings ; Tops Estimate

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PolyOne (NYSE:POL) reported net income for the fourth quarter of $ 33.80 million or $ 0.40 per share, compared to income $ 3.10 million or $ 0.04 per share for the year-ago quarter.

The Avon Lake, Ohio based company reported fourth quarter adjusted net income of $ 31.60 million or $ 0.38 per share.

Net Sales for the fourth quarter increased to $ 787.70 million from $ 775.80 million in the same quarter last year.

Analysts polled by Thomson Reuters expected the PolyOne to earn $ 0.37 per share on revenue of $ 774.12 million for the fourth quarter.

Robert M. Patterson, Chairman and CEO said that 2016 was a challenging year in many respects, yet we found a way to expand adjusted EPS for the 7th year in a row, and most importantly, invest for the future. While work remains to improve and grow our DSS segment, our businesses are well positioned for growth, and we are focused on achieving our 2020 Platinum Vision.