US A Schulman Q2 net income increases to $9.1m
04 April 2012 22:20 [Source: ICIS news]
HOUSTON (ICIS)--US A Schulman on Wednesday reported a 28% increase in its fiscal-second quarter net income, mainly because of lower restructuring and acquisition-related expenses.
Net income for the quarter totalled $9.1m (€6.9m) for the quarter, up from $7.1m in the same period a year ago.
The company recorded after-tax charges of $2.1m in the second quarter, down from $5m in the same quarter of 2011.
In January, A Schulman announced it was buying French masterbatch maker Elian for $63m.
Net sales for the quarter fell to $495.9m, compared with $508.3m in 2011, primarily as a result of the $11.7m negative impact of foreign currency translation, the company said.
"Traditionally, our second quarter tends to be less profitable than the first quarter due to the holiday season, but beyond that, the first half of fiscal 2012 has been challenging given the economic environment in Europe," said chief executive Joseph Gingo.
A Schulman stock ended the day up 0.18% at $27.85.
($1 = €0.76)
By: Bobbie Clark
+1 713 525 2653
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
| ICIS news FREE TRIAL |
| Get access to breaking chemical news as it happens. |
| ICIS Global Petrochemical Index (IPEX) |
| ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index |
Related Articles
- 20 Aug 12 14:40 A Schulman to acquire US compounder ECM Plastics for $36.5m
- 10 Jul 12 17:37 Customers try to time market bottom – US A Schulman
- 09 Jul 12 22:10 US A Schulman Q3 net income falls 10% on Europe woes
- 19 Apr 12 16:11 CHINAPLAS ‘12: Overseas users put off by China masterbatch quality
- 10 Apr 12 03:20 US A Schulman moves headquarters in Ohio
- 05 Apr 12 18:51 US A Schulman expects less volatility in Europe
- 05 Apr 12 17:26 Ti02 costs will continue to rise - A Schulman
- 30 Jan 12 21:48 US A Schulman to buy French masterbatch maker Elian for $63m
- 05 Jan 12 22:26 US A Schulman Q1 net income rises 48% on higher sales
- 26 Oct 11 23:39 US A Schulman Q4 net income falls 25% on one-time charges
- 14 Oct 11 15:39 A Schulman to beat 2011 profit guidance on stronger volumes, margins
- 14 Oct 11 11:20 ELIX and A Schulman forge Europe ABS distribution partnership
Latest News
- 19 Jun 13 06:26 Saudi Arabia's SABIC lowers July MEG ACP nomination by $50/tonne
- 19 Jun 13 06:10 Weak rupee, higher duties hurt India demand for PE, PP imports
- 19 Jun 13 06:00 VIDEO - ICIS Asia Lunchtime Bulletin 19 June 2013
- 19 Jun 13 05:28 China’s Qixiang Tengda to use UOP technology for olefin project
- 19 Jun 13 05:00 NOON SNAPSHOT - Asia Markets Summary