A. Schulman Inc. (SHLM) reported fourth-quarter net income attributable to the company of $11.2 million, or $0.38 per share, compared to net income of $5.9 million, or $0.19 per share, for the comparable period last year.
Excluding certain items, net income for the quarter was $14.1 million, or $0.48 per diluted share, compared with $15.0 million, or $0.49 per share, for the prior-year period. Analysts polled by Thomson Reuters expected the company to report earnings of $0.44 per share for the quarter. Analysts' estimates typically exclude special items.
The translation effect of foreign currencies negatively impacted net income for the quarter by $1.7 million, or $0.06 per share, on a non-GAAP basis.
Net sales for the fiscal 2012 fourth quarter were $524.4 million compared with $578.1 million for the same period last year. Net sales declined by $53.7 million, or 9.3%. Volume declined 3.7% in the quarter compared with the same quarter last year. Excluding the translation effect of foreign currencies, net sales increased by $3.7 million in the fourth quarter compared with the same period last year.
The company said it does anticipate pressure in its fiscal 2013 first-quarter results but expect stronger performance in subsequent quarters compared with the prior year.
The company expects full-year fiscal 2013 net income, excluding certain items, to be in the range of $2.14 to $2.19 per share. Analysts expect the company to report earnings of $2.21 per share for fiscal 2013.
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