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A. Schulman   Consolidated net sales were $600 million

A. Schulman Q1 2017 EPS down from $0.18 to $0.04

A. SchulmanA. Schulman announced earnings for the fiscal 2017 first quarter for the period ended November 30, 2016.

On a GAAP basis, the company reported earnings per diluted share of $0.04 compared with $0.18 in the prior period. Adjusted earnings per diluted share were $0.49 compared with $0.50 in the prior year period.

READ MORE A. Schulman Q3 profit increased 19 percent

Consolidated net sales were $600 million compared with $649.2 million for the prior year quarter.

Excluding the negative impact of foreign currency translation of $9.3 million, net sales fell 6.2% when compared with the prior year quarter.

GAAP gross margin in the fiscal 2017 first quarter increased to 16.8% compared with 16.2% in the prior year period.

Segment gross margin in the fiscal 2017 first quarter was improved slightly when compared with the prior year period at 16.9%.

Operating income margin was 3.2% compared with 4% in the prior year period. Adjusted operating income margin was 5.8% consistent with the prior year period.

On a GAAP basis, the company reported fiscal first quarter net income of $1.1 million, compared with $5.2 million in the first quarter of fiscal 2016.

On an adjusted basis, excluding certain items as noted in the reconciliation of GAAP and Non-GAAP financial measures, the company generated net income of $14.4 million compared with $14.9 million in the prior-year period.

Fiscal first quarter adjusted EBITDA was $54.6 million, compared with $58.4 million in the prior year period.




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