Exhibit 99.1
Attachment 1
PolyOne Corporation and Subsidiaries
Consolidated Statements of Income (Unaudited)
(In millions, except per share data)
Consolidated Statements of Income (Unaudited)
(In millions, except per share data)
| 1Q08 | 4Q07 | 3Q07 | 2Q07 | 1Q07 | 2007Y | |||||||||||||||||||
| Sales | $ | 713.7 | $ | 631.3 | $ | 664.8 | $ | 688.8 | $ | 657.8 | $ | 2,642.7 | ||||||||||||
| Cost of sales | 628.8 | 566.9 | 634.8 | 606.3 | 573.7 | 2,381.7 | ||||||||||||||||||
| Gross margin | 84.9 | 64.4 | 30.0 | 82.5 | 84.1 | 261.0 | ||||||||||||||||||
| Selling and administrative | 72.9 | 56.9 | 65.3 | 68.5 | 64.1 | 254.8 | ||||||||||||||||||
| Income (loss) from equity affiliates and minority interest | 8.1 | 11.1 | 11.7 | (1.6 | ) | 6.5 | 27.7 | |||||||||||||||||
| Operating income (loss) | 20.1 | 18.6 | (23.6 | ) | 12.4 | 26.5 | 33.9 | |||||||||||||||||
| Interest expense, net | (8.4 | ) | (7.1 | ) | (10.3 | ) | (15.1 | ) | (14.4 | ) | (46.9 | ) | ||||||||||||
| Premium on early extinguishment of debt | — | — | (7.5 | ) | (5.3 | ) | — | (12.8 | ) | |||||||||||||||
| Other expense, net | (2.0 | ) | (2.1 | ) | (1.8 | ) | (1.8 | ) | (0.9 | ) | (6.6 | ) | ||||||||||||
| Income (loss) before income taxes | 9.7 | 9.4 | (43.2 | ) | (9.8 | ) | 11.2 | (32.4 | ) | |||||||||||||||
| Income tax benefit (expense) | (3.2 | ) | (2.3 | ) | 45.5 | 4.4 | (3.8 | ) | 43.8 | |||||||||||||||
| Net income (loss) | $ | 6.5 | $ | 7.1 | $ | 2.3 | $ | (5.4 | ) | $ | 7.4 | $ | 11.4 | |||||||||||
| Basic and diluted earnings per common share: | $ | 0.07 | $ | 0.08 | $ | 0.02 | $ | (0.06 | ) | $ | 0.08 | $ | 0.12 | |||||||||||
| Weighted average shares used to compute earnings per share: | ||||||||||||||||||||||||
| Basic | 92.9 | 92.9 | 92.8 | 92.8 | 92.6 | 92.8 | ||||||||||||||||||
| Diluted | 93.3 | 93.2 | 93.3 | 92.8 | 93.0 | 93.1 | ||||||||||||||||||
| Dividends declared per share of common stock | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||
| 4Q06 | 3Q06 | 2Q06 | 1Q06 | 2006Y | ||||||||||||||||
| Sales | $ | 595.2 | $ | 666.2 | $ | 686.4 | $ | 674.6 | $ | 2,622.4 | ||||||||||
| Cost of sales | 527.6 | 603.6 | 599.5 | 591.2 | 2,321.9 | |||||||||||||||
| Gross margin | 67.6 | 62.6 | 86.9 | 83.4 | 300.5 | |||||||||||||||
| Selling and administrative | 56.6 | 56.2 | 54.9 | 54.2 | 221.9 | |||||||||||||||
| Income from equity affiliates and minority interest | 11.6 | 30.0 | 31.6 | 38.8 | 112.0 | |||||||||||||||
| Operating income | 22.6 | 36.4 | 63.6 | 68.0 | 190.6 | |||||||||||||||
| Interest expense, net | (15.9 | ) | (15.1 | ) | (16.0 | ) | (16.1 | ) | (63.1 | ) | ||||||||||
| Premium on early extinguishment of debt | (3.2 | ) | — | (1.2 | ) | — | (4.4 | ) | ||||||||||||
| Other expense, net | 0.1 | (0.2 | ) | (1.5 | ) | (1.2 | ) | (2.8 | ) | |||||||||||
| Income before income taxes and discontinued operations | 3.6 | 21.1 | 44.9 | 50.7 | 120.3 | |||||||||||||||
| Income tax benefit (expense) | 10.9 | (1.5 | ) | (2.4 | ) | (1.7 | ) | 5.3 | ||||||||||||
| Income from continuing operations | 14.5 | 19.6 | 42.5 | 49.0 | 125.6 | |||||||||||||||
| Loss from discontinued operations and loss on sale, net of income taxes | (0.6 | ) | — | — | (2.1 | ) | (2.7 | ) | ||||||||||||
| Net income | $ | 13.9 | $ | 19.6 | $ | 42.5 | $ | 46.9 | $ | 122.9 | ||||||||||
| Basic and diluted earnings per common share: | ||||||||||||||||||||
| From continuing operations | $ | 0.16 | $ | 0.21 | $ | 0.46 | $ | 0.53 | $ | 1.36 | ||||||||||
| Net income | $ | 0.15 | $ | 0.21 | $ | 0.46 | $ | 0.51 | $ | 1.33 | ||||||||||
| Weighted average shares used to compute earnings per share: | ||||||||||||||||||||
| Basic | 92.5 | 92.5 | 92.4 | 92.1 | 92.4 | |||||||||||||||
| Diluted | 93.0 | 93.0 | 93.0 | 92.5 | 92.8 | |||||||||||||||
| Dividends declared per share of common stock | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
Attachment 2
Segment Information (Unaudited)
(In millions)
(In millions)
| 1Q08 | 4Q07 | 3Q07 | 2Q07 | 1Q07 | 2007Y | |||||||||||||||||||
Sales: | ||||||||||||||||||||||||
| International Color and Engineered Materials | $ | 165.2 | $ | 146.9 | $ | 147.4 | $ | 150.3 | $ | 144.0 | $ | 588.6 | ||||||||||||
| Specialty Engineered Materials | 64.5 | 28.7 | 31.8 | 31.4 | 32.4 | 124.3 | ||||||||||||||||||
| Specialty Color, Additives and Inks | 58.4 | 53.0 | 58.7 | 60.5 | 59.8 | 232.0 | ||||||||||||||||||
| Specialty Platform | 288.1 | 228.6 | 237.9 | 242.2 | 236.2 | 944.9 | ||||||||||||||||||
| Performance Products and Solutions | 259.3 | 246.1 | 274.5 | 293.0 | 273.2 | 1,086.8 | ||||||||||||||||||
| PolyOne Distribution | 201.1 | 184.0 | 185.8 | 190.1 | 184.4 | 744.3 | ||||||||||||||||||
| Corporate and eliminations | (34.8 | ) | (27.4 | ) | (33.4 | ) | (36.5 | ) | (36.0 | ) | (133.3 | ) | ||||||||||||
| Sales | $ | 713.7 | $ | 631.3 | $ | 664.8 | $ | 688.8 | $ | 657.8 | $ | 2,642.7 | ||||||||||||
Gross margin: | ||||||||||||||||||||||||
| International Color and Engineered Materials | $ | 28.8 | $ | 23.0 | $ | 23.9 | $ | 25.8 | $ | 23.2 | $ | 95.9 | ||||||||||||
| Specialty Engineered Materials | 11.6 | 2.9 | 3.4 | 3.1 | 2.8 | 12.2 | ||||||||||||||||||
| Specialty Color, Additives and Inks | 11.2 | 9.5 | 11.2 | 11.3 | 9.3 | 41.3 | ||||||||||||||||||
| Specialty Platform | 51.6 | 35.4 | 38.5 | 40.2 | 35.3 | 149.4 | ||||||||||||||||||
| Performance Products and Solutions | 21.0 | 15.6 | 23.9 | 30.9 | 35.1 | 105.5 | ||||||||||||||||||
| PolyOne Distribution | 17.2 | 15.4 | 14.8 | 15.8 | 14.7 | 60.7 | ||||||||||||||||||
| Resin and Intermediates | — | — | — | (0.2 | ) | 0.8 | 0.6 | |||||||||||||||||
| Corporate and eliminations | (4.9 | ) | (2.0 | ) | (47.2 | ) | (4.2 | ) | (1.8 | ) | (55.2 | ) | ||||||||||||
| Gross margin | $ | 84.9 | $ | 64.4 | $ | 30.0 | $ | 82.5 | $ | 84.1 | $ | 261.0 | ||||||||||||
Operating income (loss): | ||||||||||||||||||||||||
| International Color and Engineered Materials | $ | 7.8 | $ | 4.8 | $ | 6.5 | $ | 7.8 | $ | 6.0 | $ | 25.1 | ||||||||||||
| Specialty Engineered Materials | 2.9 | (1.0 | ) | — | (0.3 | ) | (0.9 | ) | (2.2 | ) | ||||||||||||||
| Specialty Color, Additives and Inks | 2.8 | 1.3 | 3.2 | 2.6 | (0.1 | ) | 7.0 | |||||||||||||||||
| Specialty Platform | 13.5 | 5.1 | 9.7 | 10.1 | 5.0 | 29.9 | ||||||||||||||||||
| Performance Products and Solutions | 8.3 | 4.3 | 12.6 | 18.6 | 22.0 | 57.5 | ||||||||||||||||||
| PolyOne Distribution | 5.5 | 5.7 | 5.3 | 6.5 | 4.6 | 22.1 | ||||||||||||||||||
| Resin and Intermediates | 5.9 | 7.3 | 11.2 | 12.0 | 4.3 | 34.8 | ||||||||||||||||||
| Corporate and eliminations | (13.1 | ) | (3.8 | ) | (62.4 | ) | (34.8 | ) | (9.4 | ) | (110.4 | ) | ||||||||||||
| Operating income (loss) | $ | 20.1 | $ | 18.6 | $ | (23.6 | ) | $ | 12.4 | $ | 26.5 | $ | 33.9 | |||||||||||
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Attachment 3
Segment Information (Unaudited)
(In millions)
(In millions)
| 4Q06 | 3Q06 | 2Q06 | 1Q06 | 2006Y | ||||||||||||||||
Sales: | ||||||||||||||||||||
| International Color and Engineered Materials | $ | 129.2 | $ | 130.6 | $ | 129.6 | $ | 121.3 | $ | 510.7 | ||||||||||
| Specialty Engineered Materials | 25.4 | 29.1 | 29.9 | 28.9 | 113.3 | |||||||||||||||
| Specialty Color, Additives and Inks | 55.7 | 64.2 | 67.4 | 65.8 | 253.1 | |||||||||||||||
| Specialty Platform | 210.3 | 223.9 | 226.9 | 216.0 | 877.1 | |||||||||||||||
| Performance Products and Solutions | 249.4 | 301.2 | 311.7 | 303.9 | 1,166.2 | |||||||||||||||
| PolyOne Distribution | 166.9 | 182.1 | 189.7 | 194.1 | 732.8 | |||||||||||||||
| Corporate and eliminations | (31.4 | ) | (41.0 | ) | (41.9 | ) | (39.4 | ) | (153.7 | ) | ||||||||||
| Sales | $ | 595.2 | $ | 666.2 | $ | 686.4 | $ | 674.6 | $ | 2,622.4 | ||||||||||
Gross margin: | ||||||||||||||||||||
| International Color and Engineered Materials | $ | 20.0 | $ | 21.0 | $ | 22.1 | $ | 20.8 | $ | 83.9 | ||||||||||
| Specialty Engineered Materials | 1.8 | 3.1 | 3.6 | 2.2 | 10.7 | |||||||||||||||
| Specialty Color, Additives and Inks | 6.4 | 7.7 | 8.4 | 9.4 | 31.9 | |||||||||||||||
| Specialty Platform | 28.2 | 31.8 | 34.1 | 32.4 | 126.5 | |||||||||||||||
| Performance Products and Solutions | 26.7 | 26.4 | 37.8 | 33.2 | 124.1 | |||||||||||||||
| PolyOne Distribution | 12.4 | 14.3 | 15.0 | 15.9 | 57.6 | |||||||||||||||
| Resin and Intermediates | 0.1 | 0.3 | (0.4 | ) | — | — | ||||||||||||||
| Corporate and eliminations | 0.2 | (10.2 | ) | 0.4 | 1.9 | (7.7 | ) | |||||||||||||
| Gross margin | $ | 67.6 | $ | 62.6 | $ | 86.9 | $ | 83.4 | $ | 300.5 | ||||||||||
Operating income (loss): | ||||||||||||||||||||
| International Color and Engineered Materials | $ | 3.4 | $ | 5.2 | $ | 6.4 | $ | 5.6 | $ | 20.6 | ||||||||||
| Specialty Engineered Materials | (1.8 | ) | (0.1 | ) | 0.4 | (0.9 | ) | (2.4 | ) | |||||||||||
| Specialty Color, Additives and Inks | (3.0 | ) | (2.0 | ) | 0.1 | 0.8 | (4.1 | ) | ||||||||||||
| Specialty Platform | (1.4 | ) | 3.1 | 6.9 | 5.5 | 14.1 | ||||||||||||||
| Performance Products and Solutions | 13.0 | 14.0 | 24.9 | 21.5 | 73.4 | |||||||||||||||
| PolyOne Distribution | 3.6 | 4.3 | 5.1 | 6.2 | 19.2 | |||||||||||||||
| Resin and Intermediates | 9.7 | 27.9 | 29.0 | 36.3 | 102.9 | |||||||||||||||
| Corporate and eliminations | (2.3 | ) | (12.9 | ) | (2.3 | ) | (1.5 | ) | (19.0 | ) | ||||||||||
| Operating income | $ | 22.6 | $ | 36.4 | $ | 63.6 | $ | 68.0 | $ | 190.6 | ||||||||||
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