03 January 2013 21:51 [Source: ICIS news]
HOUSTON (ICIS)--Net income for US plastics compounder A Schulman fell by 13% in its fiscal first quarter, related in part to the translation effect of foreign currencies, the company said on Thursday.
A Schulman's first-quarter net income totalled $12.1m (€9.2m), down from $13.9m in the same period of 2011.
Net sales for the first quarter rose by 4.5% to $541m, compared with $517m for the same period in 2011.
The net sales improvement was a result of volume increases in all regions, the company said.
"We are very encouraged to see modest volume growth in all regions," said Joseph Gingo, president and CEO of the company. "exclusing acquisitions and foreign currecnty impact, volume increased 3% and we saw a sales improvement of 4%."
($1 = €0.76)
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|
Asian Chemical Connections