AVON LAKE, Ohio (AP) _ PolyOne Corp. (POL) on Wednesday reported first-quarter net income of $38.2 million.
The Avon Lake, Ohio-based company said it had profit of 49 cents per share. Earnings, adjusted for one-time gains and costs, were 64 cents per share.
The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.
The maker of resins used in plastic pipe and other products posted revenue of $899.9 million in the period, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $921.9 million.
PolyOne shares have climbed almost 8 percent since the beginning of the year. The stock has dropped 30 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on POL at https://www.zacks.com/ap/POL