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Schulman Increases Full-Year Guidance as Volumes Improve
11:34 AM MDT | October 14, 2011 | Rebecca Coons
A. Schulman says it expects profits to exceed its previous guidance for its fiscal year ended August 31 due to unexpected strength in volume, improved margins, and favorable tax adjustments. The company reports preliminary adjusted net income of $58 million for its fiscal year, compared with previous guidance of $50-$52 million. The updated guidance is in line with analysts' estimates, as reported by Thomson One (New York). The company also raised its quarterly dividend 10%, to 17 cts/share, payable November 1. Schulman lowered its guidance in August...
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