Schulman Meets Estimates, But Warns of 'Economic Softness' Going Forward

A. Schulman reported net income of $18.8 million in its fiscal third quarter ended May 31, down 27% in the same period last year. Excluding charges in each period,  earnings increased 49%, to $20.3 million (65 cts/share). The consensus of analysts’ estimates was 64 cts/share, as reported by Thomson One (New York). Sales rose 45%, to $611.1 million, largely due to the addition of ICO, which Schulman acquired during the third quarter 2010. "Gross profit and operating income improved from a year ago in each of our three regions as our efforts to...

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