A. Schulman swings to a loss
07/07/2015 12:37

A. Schulman, a global plastics supplier, reported a Q3 net loss from continuing operations of USD 0.34 per diluted share down from a year-earlier profit of USD 0.65 cents a share. On an adjusted basis, excluding financing, restructuring and acquisitions-related costs, the Company generated net income of USD 0.72 per diluted share from USD 0.74 cents a share a year earlier.

Net sales fell 13 per cent to USD 560.9 million, with currency fluctuations impacting sales by about USD 91.4 million, Schulman said.

In the latest period, revenue from Europe, the Middle East and Africa fell to USD 326.3 million, a 21 per cent decline, or 1.9 per cent excluding currency fluctuations. The stronger dollar also impacted sales in Latin America, down 9.9 per cent in the latest period.

Gross margin improved to 16.2 per cent from 14.2 per cent a year earlier.