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A. Schulman, Inc.
Schulman Reports Fiscal 2009 First-Quarter Results; Liquidity Position Remains Excellent
January 30th, 2009
A. Schulman, Inc. (NASDAQ: SHLM) announced that net sales for the fiscal first quarter ended November 30, 2008, were $388.4 million, a 21.8% decline from net sales of $496.6 million for the comparable quarter last year. Tonnage was down 27.8% and the translation effect of foreign currency, primarily the euro, reduced sales by an incremental 3.7%. The effect of pricing and mix increased sales 9.7%. The tonnage decline primarily reflects the unprecedented drop-off in demand, particularly in November, as well as last year's downsizing in the Company's North America Engineered Plastics business. Excluding the effect of these planned volume reductions, volume was down approximately 21%,...
Source: Health Business Week (2009-01-30)
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