FAIRLAWN, Ohio—Shares at plastic compounds and resins supplier A. Schulman Inc. rose significantly after the release of strong quarter results on Oct. 22.
Fairlawn-based A. Schulman released its fourth-quarter and full-year 2014 results. Full-year net income from continuing operations for fiscal year 2014 was $53 million, or $1.80 per diluted share, up 61.5 percent from $32.8 million, or $1.12 per diluted share, in the like period of 2013. Adjusted net income for the year was $69.3 million, or $2.36 per diluted share.
The company reported a 14.7 percent increase in sales for fiscal year 2014 from 2013. Sales rose 16.8 percent in the fourth quarter.
A. Schulman also announced earnings guidance for fiscal 2015 of $2.60 to $2.65 per diluted share.
As of 2:19 p.m. on Oct. 23, A. Schulman's stock was up $5.98, or 19.82 percent, to $36.12.
A. Schulman also revealed plans on Oct. 22 to cut about 40 jobs from its Europe, Middle East and Africa unit.