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Schulman earnings up, sets double-digit sales target

4:11 PM MDT | April 17, 2014

A. Schulman on 8 April 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 because of strength in European demand. The company also says it is aiming to grow sales by 10–11%/year through...

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