PolyOne growth has passed the $1 billion per quarter mark.
AVON LAKE, Ohio -- PolyOne Corp., a global maker of specialty polymers sold more than $1 billion of product in the first three months of the year, a 25 percent increase over the first quarter of 2013.
The company Thursday reported a net income of $42 million, or 44 cents per share, up from $29 million, or 31 cents per share a year ago.
The company credited the leap in sales and income to its acquisition or purchase of other companies and to organic growth.
"This is a 42 percent increase over last year's $0.31 and it also marks our 18th consecutive quarter of strong double-digit adjusted earnings-per-share growth," Stephen Newlin, chairman, CEO and president, told analysts in a teleconference Thursday, now available on the company's website.
"These strong results build on the momentum from the second half of 2013 and set the stage for another superb year in 2014. We achieved year-over-year revenue improvement in nearly every region, including Europe, which grew organically revenue by 6 percent.
Newlin also credited the company's global sales force, allowing it to offer customers engineered products to fit their needs. And he hinted of a number of coming innovations that will keep PolyOne competitive.
PolyOne is a global manufacturer of thermoplastic compounds, specialty resins and polymers engineered films, and color and additive systems. It has operations in North America, Europe, Asia, Australia and South America.