A. Schulman, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended August 31, 2015; Provides Earnings Guidance for the Fiscal Year 2016
Oct 20 15
A. Schulman, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended August 31, 2014. For the quarter, the company reported net sales of $674,019,000 against $627,358,000 a year ago. Operating income was $20,765,000 against $23,285,000 a year ago. Income from continuing operations before taxes was $5,712,000 against $21,050,000 a year ago. Net income attributable to company was $23,688,000 against $15,172,000 a year ago. Diluted earnings per share attributable to company were $0.74 against diluted $0.52 per share a year ago. Adjusted net income available to company common stockholders was $18,755,000 against $19,481,000 a year ago. Adjusted EBITDA was $62,044,000 against $40,674,000 a year ago.
For the year, the company reported net sales of $2,392,225,000 against $2,446,998,000 a year ago. Operating income was $70,428,000 against $82,321,000 a year ago. Income from continuing operations before taxes was $28,430,000 against $72,332,000 a year ago. Net income attributable to company was $26,629,000 against $56,193,000 a year ago. Diluted earnings per share attributable to company were $0.82 against $1.91 per share a year ago. Net cash provided from operating activities was $60,170,000 against $113,142,000 a year ago. Expenditures for property, plant and equipment was $42,587,000 against $35,089,000 a year ago. Capital expenditures for fiscal 2015 were $42.6 million compared with $35.1 million last year. These expenditures were primarily related to strategic investments in the Company's global manufacturing facilities and technical innovation and collaboration centers focused on organic growth and new product development. Adjusted net income available to company common stockholders was $69,885,000 against $69,307,000 a year ago. Adjusted EBITDA was $177,664,000 against $146,136,000 a year ago. Adjusted net income from continuing operations for fiscal 2015, excluding certain items, was $69,300,000, or $2.36 per diluted share, a 29% improvement over the prior year. Capital expenditures were $35,100,000 compared with $26,600,000 for the prior year, and were primarily related to the regular and ongoing investment in the Company's global manufacturing facilities.
The company anticipates its fiscal 2016 adjusted net income of $2.80 to $2.85 per diluted including the accretive impact of the Citadel acquisition. In fiscal 2016, The company expects capital spending to be approximately $55 million. The company expects EBITDA to be in the range of $265 million to $270 million, roughly a 50% increase over the prior year.
A. Schulman Declares Quarterly Cash Dividend, Payable on November 2, 2015
Oct 5 15
A. Schulman, Inc. approved the quarterly cash dividend of $15.00 per share on the 125,000 shares of the company's convertible special stock, payable on November 2, 2015 to shareholders of record on October 15, 2015.