UPDATE: PolyOne Reports 41% Drop In Q2 Net Income

PolyOne Corp POL reported a 41% decline in its second-quarter profit. PolyOne reported its quarterly net income at $28.5 million, or $0.30 per share, down from $48.1 million, or $0.50 per share, in the year-ago period. Excluding one-time items, PolyOne's earnings came in at $0.31 per share. Its revenue climbed 11% to $768.8 million. Analysts were expecting revenue of $778.1 million. PolyOne shares closed at $14.78 yesterday.