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Schulman falls short of estimates on Europe weakness

3:10 PM MDT | April 8, 2013 | Vincent Valk

A. Schulman today reported fiscal second-quarter net income up 29.7% year-on-year (YOY), to $11.8 million, on sales up 5.3%, to $522.4 million. A tax allowance and an acquisition drove the increases in earnings and sales, however. Excluding the tax allowance, adjusted earnings fell 28.9%, to 27 cts/share, well short of analysts’ estimates of 40 cts/share, as reported by Thomson Reuters (New York). Schulman’s fiscal second-quarter ended on 28 February.   "This was the first quarter in quite some time where our Americas and...

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