Schulman Reports Net Income of $25.5 Million for Fiscal 2017

October 30 2017

A. Schulman, Inc. has apprised of its financial results for the fiscal 2017 fourth quarter and full-year results for the year ended August 31, 2017.

For fiscal 2017, the Company reported net income of $25.5 million, or $0.86 per diluted share. Net income in the fourth quarter was $7.4 million, or $0.25 per diluted share. On an adjusted basis, net income for fiscal 2017 was $51.8 million, or $1.75 per diluted share, and $9.6 million, or $0.32 per diluted share, for the fourth quarter. Last year on an adjusted basis, the Company reported full-year net income of $61.2 million, or $2.08 per share, and fourth-quarter net income of $13.7 million, or $0.47 per diluted share.

Joseph M. Gingo, chairman, president and chief executive officer said, “Our businesses in Latin America and Asia-Pacific are strong and growing – as is our global Engineered Composites business. In fact, our Latin American region had a record level of operating income for the year while our Asia-Pacific region reported, excluding foreign currency, a double-digit increase in operating income. Engineered Composite growth was driven by Quantum, our strong carbon fiber sheet molding business. We will continue to invest in growth platforms while building positive sales momentum in Europe. Lastly, we have stabilized our U.S. and Canada business which will drive future profitability”.

For identifying growth opportunities for carbon fiber in the global automotive composites market, please visit http://www.lucintel.com/carbon_fiber_in_automotive_composites_2016.aspx

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