Infinata Report

Template ID : 2705 Edit

Access More Information on A. Schulman, Inc. !

	Corporate Tracker Subscribers have complete access to all available research and information on A. Schulman, Inc. including detailed executive and manager listings, financial data, M&A and financing activities, personnel changes and more. Register for a free trial today and see what you've been missing.

3550 West Market Street

Akron, OH 44333

USA

Phone

330.666.3751

Company Information

Company Information
Industry	Fabricated Plastic & Rubber

# of Employees	2471

Ownership	Public Company



Company Security Requirements	1. Very High

Company Storage Requirements	1. Very High

Fortune 1000 Rank	981

Description

A. Schulman, Inc. is engaged in the sale of plastic resins and compounds, which are used as raw materials by its customers. It combines basic resins purchased from plastic resin producers and, through mixing and extrusion processes, introduces additives that provide color, stabilizers, flame-retardants or other enhancements that may be required by a customer. The Company operates in two geographic business segments: North America and Europe. Its manufacturing business segments can be classified into five major product families: color and additive concentrates; engineered compounds; polyolefins; polyvinyl chloride (PVC), and tolling. These compounds are formulated in the Company's laboratories and are manufactured in the Company's 14 plastics compounding plants in North America, Europe and Asia. Customers for the Company's plastic compounds include manufacturers, custom molders and extruders of a wide variety of plastic products and parts.

Top Executives

Executive Name	Title
Belderbos, Walter	Chief Financial Officer-Europe
Desantis, Paul	Vice President Of Finance, (Designee) Chief Financial Officer And Treasurer
Gingo, Joseph	Chairman, President And Chief Executive Officer
Haines, Terry	(Outgoing)President And Chief Executive Officer
Stefanko, Robert	Chairman, Chief Financial Officer

View All A. Schulman, Inc. Management and Contacts Available thru Corporate Tracker

Corporate Tracker doesn't just provide C-level executives, but goes deep within the organizational structure of the companies, governments and academic institutions that we track. This ensures that you are able to identify the decision makers and influencers that allow you to grow your business.

Register for a free trial today and view all executives and managers.

Recent Company Events

Date	Type of Event	Details
2008-01-04	Earnings/Dividends	A. Schulman, Inc. announced today that net sales for the fiscal first quarter ended November 30, 2007 were $496.6 million, a 12.2% increase over last year's first quarter net sales of $442.7 million. Tonnage was up 3.1% while changes in prices and product mix increased sales by 0.9%. The translation effect of foreign currencies, primarily the euro, increased sales by 8.2% or $36.1 million. Net income for the first quarter was $10.0 million or $0.36 per diluted share compared with $2.4 million or $0.09 per diluted share for the first quarter of last year. The translation effect of foreign currencies increased net income by $1.6 million. Net income for the first quarter of fiscal 2008 also included: Costs of $0.7 million ($1.0 million pre tax) for certain employment termination costs in Europe, and An after tax charge of $0.4 million related to the final settlement of an insurance claim related to Hurricane Rita. Net income for the fiscal 2007 first quarter was affected by the following items: Accelerated depreciation of $0.3 million and restructuring expense of $0.1 million in the North America segment, and A write off of approximately $0.6 million ($1.0 million pre tax) in costs associated with an acquisition that was not completed. Excluding the unusual items, net income would be $11.1 million or $0.39 per diluted share for the first quarter of the current year compared with $3.4 million or $0.12 per diluted share in the first quarter of fiscal 2007. Pre tax income for the quarter was $14.4 million compared with $8.0 million in last year's first quarter. Gross profit increased to $57.2 million or 11.5% of net sales from $49.5 million or 11.2% of net sales a year ago. The increase in gross profit as a percentage of net sales was primarily driven by an increase in average selling price which more than offset the increase in cost in the first quarter of fiscal 2008. "It is notable that net income increased fourfold over last year's first quarter, while gross profit as a percentage of sales increased by 30 basis points, despite challenging market conditions," said Terry L. Haines, Chairman and retiring President and CEO. "Cost savings from our North America initiatives were a major factor in our improved performance." The effective tax rate for the first quarter was 30.6%, a decrease from 70.2% in last year's comparable period. The decrease was driven by: a decrease in the U.S. pre tax loss, for which no benefit is recognized; an increase in foreign pre tax income in lower rate jurisdictions; recently implemented tax planning strategies; and recently enacted tax legislation in Germany, which reduced the German statutory rate by approximately 10 percentage points. The quarter's increase of $0.6 million in selling, general & administrative (SG&A) expense compared with last year's first quarter was due primarily to the increase in foreign exchange rates offset by the benefits of the Company's cost savings initiatives. Excluding the effects of foreign exchange, SG&A was down by $1.7 million, primarily in North America. As a percent of sales, SG&A declined to 8.2% in the quarter from 9.1% in the comparable period last year. Cash flow from operations was $8.8 million for the first quarter of fiscal 2008, compared with $19.6 million in the first quarter of fiscal 2007. This decrease was primarily due to an increase in accounts receivable driven by the increase in sales in the quarter, and an increase in inventory primarily driven by the increase in foreign exchange rates partially offset by the increase in accounts payable. Days of inventory increased slightly from year end results, but were lower than the comparable period last year. The Company remains committed to continuing its working capital reduction efforts. Worldwide capacity utilization, calculated by dividing production pounds by practical capacity at each plant, was 95% in both the first quarter

For assistance call Corporate Tracker Support at 1.866.501.6948

--------------------------------------------------------------------- --------------------------------------------------------------------- --------------------------------------------------------------------- ---------------------------------------------------------------------