Schulman Posts Profit Gain, But Forgoes 2012 Guidance on Limited Visibility

A. Schulman posted net income of $5.9 million for its fiscal fourth quarter ended August 31, down 26% from the year-ago quarter. Excluding certain one-time charges and acquisition-related items, income increased 28%, to $15 million (49 cts/share). Analysts’ consensus was for 45 cts/share, as reported by Thomson Reuters (New York). Sales increased 21%, to $578 million. Volumes declined 2.5%, but average price/lb increased 25%, the company says.  "We are pleased that we achieved strong results for fiscal 2011 as margins improved across all of our...

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