A. Schulman Inc. (SHLM) said that it expects its fiscal 2010 first quarter ended November 30, 2009, to be a strong quarter with North America breaking even and global operating earnings in excess of fiscal 2009 and 2008 levels, excluding any acquisition-related costs and including discontinued operations.
Additionally, on December 2, 2009, the Company announced it has signed a definitive agreement to acquire all of the outstanding shares of Houston-based ICO, Inc. (Nasdaq: ICOC), pending approval of the transaction by ICO shareholders and receipt of customary regulatory approvals. ICO is a global manufacturer of specialty resins and concentrates, and provides specialty polymer services. ICO reported annual revenues of $300 million for the year ended September 30, 2009.
The company said that its stockholders approved proposals to elect current directors David Birney, Howard Curd, Michael McManus, Jr., Ernest Novak, Jr, Dr. Irvin Reid and John Yasinsky to one-year terms expiring at the 2010 Annual Meeting; ratify the selection of PricewaterhouseCoopers LLC as the Company's independent registered public accounting firm for fiscal 2010; and adopt and approve A. Schulman's 2009 employee stock purchase plan.
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