IHS Chemical Week

Schulman earnings up on European strength, adds shares repurchase

12:26 PM MDT | April 8, 2014

A. Schulman today reported net income of $7 million for the fiscal quarter ended 28 February, down 41% year-on-year (YOY), but adjusted results topped estimates. Schulman says income from continuing operations excluding certain items was $11.3 million, a 39% improvement over the prior-year quarter. Adjusted earnings were 39 cts/share, 18% above analyst estimates as compiled by Thomson Reuters. Net sales of $588 million grew 15% YOY, partially due to strength in European demand. “Our strong financial results reflect sustained operational improvements combined...

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