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Schulman earnings hit by strong dollar but beat estimates

4:24 PM MDT | October 24, 2012 | Vincent Valk

A. Schulman’s fiscal fourth-quarter adjusted net income fell 6% year-on-year, to $14.1 million, or 48 cts/share, as sales growth was adversely impacted by a strong dollar. Including restructuring charges, basic net income totaled $11.2 million, or 38 cts/share, nearly double the year-ago quarter. Earnings beat analysts’ consensus of 44 cts/share, as reported by Thomson Reuters (New York). A. Schulman’s fiscal fourth quarter ended on August 31.   Net sales for the quarter fell 9.3% year-on-year, to $524.4 million, as the strong dollar...

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