A. Schulman, Inc. Names Gustavo Perez as Vice President and General Manager, Latin America
Nov 21 14
On November 17, 2014, A. Schulman, Inc. announced that effective November 17, 2014, Gustavo Perez will become Vice President and General Manager, Latin America, to specifically focus on growing and developing the Latin America region. The company believes that utilizing Mr. Perez' extensive knowledge of customers and markets in the Latin America region will be a competitive advantage as the company seeks profitable growth opportunities in that region. Most recently he is serving as the company's Vice President and General Manager, Americas, since August 2010, before which he served as the General Manager of Masterbatch for the company's North America operations.
A. Schulman Announces Two Restructuring Actions in its Americas Segment Related to Recent Acquisitions
Nov 17 14
A. Schulman, Inc. announced that it is consolidating its North American production facilities. As part of its ongoing review of its manufacturing footprint, the company will close its plant in Stryker, Ohio, in April 2015 and shift the plant's production to other facilities in North America. The Stryker plant has been producing products primarily for markets in the United States and Mexico. It employs approximately 70 people and was part of A. Schulman's acquisition of the Ferro Specialty Plastics Business, which was completed in July 2014.
A. Schulman, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended August 31, 2014; Provides Adjusted Net Income Guidance for the Fiscal Year 2015
Oct 22 14
A. Schulman, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended August 31, 2014. For the quarter, the company reported net sales of $627,358,000 against $537,288,000 a year ago. Operating income was $23,285,000 against $19,301,000 a year ago. Income from continuing operations before taxes was $21,050,000 against $15,387,000 a year ago. Income from continuing operations was $15,164,000 against loss from continuing operations of $762,000 a year ago. Net income was $15,387,000 against net loss of $2,333,000 a year ago. Net income attributable to company was $15,172,000 against net loss attributable to company of $2,682,000 a year ago. Diluted earnings per share attributable to company were $0.52 against diluted loss per share attributable to company of $0.09 per share a year ago.
For the year, the company reported net sales of $2,446,998,000 against $2,133,402,000 a year ago. Operating income was $82,321,000 against $63,103,000 a year ago. Income from continuing operations before taxes was $72,332,000 against $53,732,000 a year ago. Net income was $56,992,000 against $27,328,000 a year ago. Income from continuing operations was $53,790,000 against $33,999,000 a year ago. Net income attributable to company was $56,193,000 against $26,099,000 a year ago. Diluted earnings per share attributable to company were $1.19 against $0.89 per share a year ago. Net cash provided from operating activities was $113,142,000 against $83,713,000 a year ago. Expenditures for property, plant and equipment was $35,089,000 against $26,568,000 a year ago. Adjusted net income from continuing operations for fiscal 2014, excluding certain items, was $69,300,000, or $2.36 per diluted share, a 29% improvement over the prior year. Capital expenditures were $35,100,000 compared with $26,600,000 for the prior year, and were primarily related to the regular and ongoing investment in the Company's global manufacturing facilities.
The company anticipates its fiscal 2015 adjusted net income will increase to a range of $2.60 to $2.65 per diluted share.