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A. Schulman reports fiscal 2017 first quarter results

January 12/2017

SCOW (MRC) -- A. Schulman Inc. (SHLM) announced earnings for first quarter that fell from last year, said Reuters.

The company said its bottom line declined to USD14.40 million, or USD0.49 per share. This was down from USD14.88 million, or USD0.50 per share, in last year's first quarter.

Analysts had expected the company to earn USD0.45 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 7.6% to USD600.00 million. This was down from USD649.22 million last year.

A fiscal first-quarter net income of USD1.07m, down 80% from USD5.22m from the same time last year because of lower sales and a larger restructuring charge. Sales were USD600.0m, down 7.6% from USD649.2m from the same time last year.

As MRC informed earlier, A. Schulman Inc. announced that it has expanded its existing compounding capacity by adding two new production lines at the Kerpen plant in Germany. In addition to the two twin screw extruders, the company has invested in a fully automatic packaging line.

A. Schulman is a global plastics supplier, headquartered in Akron, Ohio, and a leading international supplier of high-performance plastic compounds and resins, which are used as raw materials in a variety of markets. A. Schulman has 33 manufacturing facilities globally. A. Schulman's fiscal third-quarter earnings fell 69% amid continued sluggishness in European markets and higher-than-expected costs in Latin America, where the company has been consolidating its Brazilian operations.
Author:Anna Larionova
Tags:elastotermoplast, thermoforming, compounds, compounding, A.Schulman.
Category:General News
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