CLEVELAND (May 1)—PolyOne Corp. reported a net loss of $57.3 million on sales of $613.2 million during the first quarter ended March 31, compared with a net loss of $21.4 million on revenues of $709.7 million in last year's first quarter. Thomas Waltermire, PolyOne chairman and CEO, said while the firm is encouraged by the positive uptick in the first quarter of 2002 when compared with the fourth quarter of 2001, PolyOne has yet to see a strong demand from customers this year. "Demand for PolyOne products appears to be tracking U.S. industry production rates, which are improving, but still lag first-quarter 2000 and 2001 levels," he said.
PolyOne posts $57.3 million loss in first quarter
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