April 7 Specialty chemical maker A. Schulman Inc
raised its full-year profit outlook, topping the
average analyst expectation, citing strengthening demand in
Europe and relatively stable raw material prices.
The company, which also reported a better-than-expected
quarterly profit on Monday, raised its 2014 adjusted profit to
$2.23-$2.28 per share from $2.13-$2.18.
Analysts on average were expecting $2.16 per share,
according to Thomson Reuters I/B/E/S.
Net sales in the Europe, Middle East and Africa region rose
12 percent in the second quarter ended Feb.28, helped by demand
from automotive, electronics & electrical markets.
Total revenue increased 13 percent to $588.5 million.
Net income attributable to A. Schulman fell to $6.8 million,
or 23 cents per share, from $11.8 million, or 40 cents per
share, a year earlier. (link.reuters.com/cyq38v)
Adjusted profit from continuing operations was 39 cents per
share, higher than analysts' average estimate of 33 cents per
A. Schulman's shares closed at $36.32 on the Nasdaq.
(Reporting By Shubhankar Chakravorty in Bangalore; Editing by