MOSCOW (MRC) -- US-based compounder A Schulmanreported net income for the fourth quarter of USD15.2 million or USD0.52 per share, compared to a net loss of USD2.7 million or USD0.09 per share for the year-ago quarter, said the company.
Earnings from continuing operations for the fourth quarter was USD0.51 per share, compared to a loss from continued operations of USD0.04 per share in the prior year quarter.
Excluding items, adjusted earnings for the fourth quarter were USD0.66 per share, compared to USD0.55 per share last year.
Analysts polled by Thomson Reuters expected the company to earn USD0.64 per share for the fourth quarter. Analysts' estimates typically exclude special items.
Net sales for the fourth quarter rose 16.8% to USD627.4 million from USD537.3 million a year ago.
For the fiscal year 2015, the company forecasts adjusted earnings of USD2.60 to USD2.65 per share. Analysts currently expect the company to earn USD2.60 per share for the fiscal year 2015.
As MRC wrote before, Schulman, Inc. has announced that it has purchased the Perrite Group, a thermoplastics manufacturing business with operations in Malaysia, the United Kingdom and France, for approximately USD52 million. Perrite was part of the Vita Group portfolio of companies.
A. Schulman, Inc. is a leading international supplier of high-performance plastic compounds and resins headquartered in Akron, Ohio. The company's customers span a wide range of markets such as packaging, mobility, building & construction, electronics & electrical, agriculture, personal care & hygiene, sports, leisure & home, custom services and others. The company employs approximately 3,300 people and has 34 manufacturing facilities globally.
MRC