A. Schulman Q1 Profit Tops Estimate; Reaffirms FY15 Earnings Outlook

(RTTNews) - A. Schulman, Inc. (SHLM) reported net income for the first quarter of $13.2 million or $0.45 per share, compared to $15.1 million or $0.52 per share for the year-ago quarter.

Income from continuing operations for the first quarter was $13.2 million or $0.45 per share, compared to $12.4 million or $0.43 per share in the first quarter of last year.

Excluding items, adjusted income from continuing operations for the latest quarter was $18.5 million or $0.63 per share.

Net sales for the first quarter rose 5% to $615.05 million from $585.40 million in the prior-year quarter.

Analysts polled by Thomosn REeeuters expected the company to earn $0.60 per share on revenue of $644.40 million for the first quarter. Analysts' estimates typically exclude special items.

The company reaffirmed its fiscal 2015 adjusted earnings guidance of $2.60 to $2.65 per share. Analysts currently expect the company to earn $2.61 per share for the fiscal year 2015.