A. Schulman Reports Q2 EPS of $0.39 vs. $0.33; Revenues $508.3M vs. $423.6M

A. Schulman, Inc. SHLM announced today earnings for the fiscal 2011 second quarter ended February 28, 2011. The Company reported net income for the second quarter of $7.1 million, or $0.23 per diluted share, compared with a net loss of $6.8 million, or $0.26 per share, for the comparable period last year. The fiscal 2011 second quarter included certain after-tax charges of approximately $5.0 million primarily related to restructuring expenses, unwinding of inventory step-ups, asset impairments and acquisition-related costs. Last year's second quarter included certain after-tax charges of $10.0 million related to asset impairments, acquisition-related costs and restructuring expenses. Excluding these charges, net income for the fiscal 2011 second quarter was $12.1 million, or $0.39 per diluted share, compared with $3.2 million, or $0.12 per diluted share, for the prior-year period. Net sales for the fiscal 2011 second quarter were $508.3 million, an increase of 53.6% compared with $331.0 million for the same period last year.