A. Schulman Inc. (SHLM) reported third-quarter net income attributable to the company of $17.0 million, or $0.57 per share, compared to $18.8 million, or $0.60 per share, for the comparable period last year. The translation effect of foreign currencies negatively impacted net income for the quarter by $0.8 million.
Excluding items, net income for the fiscal 2012 third quarter was $20.4 million, or $0.69 per share, up from $20.3 million, or $0.65 per share in the prior-year quarter. On average, four analysts polled by Thomson Reuters expected the company to report earnings of $0.62 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the fiscal 2012 third quarter were $569.11 million, compared with $611.14 million in the year-ago period. The decrease was primarily a result of the $23.5 million negative impact of foreign currency translation and a 7% decrease in volume.
A. Schulman expects full-year net income for fiscal 2012 to be in the range of $2.03 to $2.07 per share. Analysts currently expect fiscal 2012 earnings of $2.01 per share.
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