Schulman Volumes Slump on Weak European Economy

A. Schulman reported net income of $9.1 million (31 cts/share) for its fiscal second quarter ended February 29, up 22% from the year-ago quarter. Excluding certain restructuring and acquisition-related expenses, net income slumped 8%, to $11.2 million (38 cts/share). Analysts’ consensus was for 44 cts/share, as reported by Thomson Reuters (New York). Sales fell 3%, to $496 million, and volumes were off 8%.   "Traditionally, our second quarter tends to be less profitable than the first quarter due to the holiday season, but beyond that, the first...

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