A. Schulman posts threefold Q3 growth but expects Q4 weakness

07/8/2010 | Crain's Cleveland Business

Plastic-resins producer A. Schulman has posted a fiscal third-quarter profit of $25.8 million, more than tripling its $7.4 million profit during the same period last year. However, fourth-quarter earnings are only expected to be in line with year-ago fourth-quarter performance, as the euro's weakness pressures earnings. "While we are also pleased with our overall performance in Europe, it is not likely to approach pre-downturn fiscal 2008 levels until market volumes recover significantly," said A. Schulman CEO Joseph Gingo.

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