Close

Form 8-K SCHULMAN A INC For: Apr 27

FREE Breaking News Alerts from StreetInsider.com!

E-mail Address

StreetInsider.com Top Tickers, 4/19/2024

1. NFLX
2. ISRG
3. TSM
4. TSLA
5. SPY
6. INFY
7. SNV
8. SMCI
9. NVDA
10. SLB


April 27, 2015 4:18 PM EDT

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): April 27, 2015

 

 

A. SCHULMAN, INC.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   0-7459   34-0514850
(State or other jurisdiction
of incorporation)		  

(Commission

File Number)

  

(IRS Employer

Identification No.)

 

3637 Ridgewood Road

Fairlawn, Ohio

   44333
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code: (330) 666-3751

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

Item 7.01. Regulation FD Disclosure.

Historically, A. Schulman, Inc. (the “Company”) disclosed the following three reportable segments: Europe, Middle East and Africa; the Americas; and Asia Pacific. Beginning with the second quarter of fiscal 2015, the Company now discloses the following four reportable segments: Europe, Middle East and Africa; United States and Canada; Latin America; and Asia Pacific. This change corresponds with the January 1, 2015 appointment of the Company’s new President and CEO who assumed the role of Chief Operating Decision Maker (“CODM”) at that time, and how the CODM makes decisions, assesses performance and allocates resources. There has been no change in the Company’s total consolidated financial condition or results of operations previously reported as a result of the change in segment structure.

Unaudited segment information, which has been revised from amounts previously reported to reflect the Company’s new segment reporting structure for all four quarters of fiscal 2014 and the corresponding periods of fiscal 2013, is attached hereto as Exhibit 99.1.

The information in this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”), nor shall it be deemed incorporated by reference into any filing pursuant to the Securities Act of 1933 or the Exchange Act, except as otherwise expressly stated in such filing.

 

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

 

Exhibit
Number

   

Description

99.1    Revised Historical Segment Financial Information

 

2

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

A. Schulman, Inc.
April 27, 2015 By:

/s/ David C. Minc

David C. Minc
Vice President, Chief Legal Officer and Secretary

 

3

Exhibit Index

 

Exhibit
Number

   

Description

99.1    Revised Historical Segment Financial Information

 

4

Exhibit 99.1

 

     Three months ended November 30,  

USCAN

    2013     2012     Increase (decrease)  
     (In thousands, except for %’s and per pound data)  

Pounds sold

      119,784        120,825        (1,041 )      (0.9 )% 

Net sales

    $ 95,940      $ 99,794      $ (3,854 )      (3.9 )% 

Segment gross profit

    $ 13,750      $ 13,948      $ (198 )      (1.4 )% 

Segment gross profit percentage

      14.3 %      14.0 %     

Segment operating income

    $ 3,859      $ 4,448      $ (589 )      (13.2 )% 

Price per pound

    $ 0.801      $ 0.826      $ (0.025 )      (3.0 )% 

Segment operating income per pound

    $ 0.032      $ 0.037      $ (0.005 )      (13.5 )% 
     Three months ended November 30,  

LATAM

    2013     2012     Increase (decrease)  
     (In thousands, except for %’s and per pound data)  

Pounds sold

      35,450        39,011        (3,561 )      (9.1 )% 

Net sales

    $ 50,587      $ 49,780      $ 807        1.6 % 

Segment gross profit

    $ 7,683      $ 7,478      $ 205        2.7 % 

Segment gross profit percentage

      15.2 %      15.0 %     

Segment operating income

    $ 3,505      $ 3,344      $ 161        4.8 % 

Price per pound

    $ 1.427      $ 1.276      $ 0.151        11.8 % 

Segment operating income per pound

    $ 0.099      $ 0.086      $ 0.013        15.1 % 
     Three months ended February 28,  

USCAN

    2014     2013     Increase (decrease)  
     (In thousands, except for %’s and per pound data)  

Pounds sold

      120,564        120,424        140        0.1 % 

Net sales

    $ 108,692      $ 95,941      $ 12,751        13.3 % 

Segment gross profit

    $ 13,370      $ 12,375      $ 995        8.0 % 

Segment gross profit percentage

      12.3 %      12.9 %     

Segment operating income

    $ 2,839      $ 3,842      $ (1,003 )      (26.1 )% 

Price per pound

    $ 0.902      $ 0.797      $ 0.105        13.2 % 

Segment operating income per pound

    $ 0.024      $ 0.032      $ (0.008 )      (25.0 )% 
     Three months ended February 28,  

LATAM

    2014     2013     Increase (decrease)  
     (In thousands, except for %’s and per pound data)  

Pounds sold

      35,670        36,388        (718 )      (2.0 )% 

Net sales

    $ 48,407      $ 48,264      $ 143        0.3 % 

Segment gross profit

    $ 7,856      $ 6,360      $ 1,496        23.5 % 

Segment gross profit percentage

      16.2 %      13.2 %     

Segment operating income

    $ 3,430      $ 2,003      $ 1,427        71.2 % 

Price per pound

    $ 1.357      $ 1.326      $ 0.031        2.3 % 

Segment operating income per pound

    $ 0.096      $ 0.055      $ 0.041        74.5 % 

     Three months ended May 31,  

USCAN

    2014     2013     Increase (decrease)  
     (In thousands, except for %’s and per pound data)  

Pounds sold

      140,989        126,078        14,911        11.8 % 

Net sales

    $ 131,645      $ 102,166      $ 29,479        28.9 % 

Segment gross profit

    $ 23,791      $ 13,898      $ 9,893        71.2 % 

Segment gross profit percentage

      18.1 %      13.6 %     

Segment operating income

    $ 11,906      $ 3,918      $ 7,988        203.9 % 

Price per pound

    $ 0.934      $ 0.810      $ 0.124        15.3 % 

Segment operating income per pound

    $ 0.084      $ 0.031      $ 0.053        171.0 % 
     Three months ended May 31,  

LATAM

    2014     2013     Increase (decrease)  
     (In thousands, except for %’s and per pound data)  

Pounds sold

      35,034        36,333        (1,299 )      (3.6 )% 

Net sales

    $ 49,754      $ 50,369      $ (615 )      (1.2 )% 

Segment gross profit

    $ 4,472      $ 6,096      $ (1,624 )      (26.6 )% 

Segment gross profit percentage

      9.0 %      12.1 %     

Segment operating income

    $ (649 )    $ 1,422      $ (2,071 )      (145.6 )% 

Price per pound

    $ 1.420      $ 1.386      $ 0.034        2.5 % 

Segment operating income per pound

    $ (0.019 )    $ 0.039      $ (0.058 )      (148.7 )% 
     Three months ended August 31,  

USCAN

    2014     2013     Increase (decrease)  
     (In thousands, except for %’s and per pound data)  

Pounds sold

      145,508        134,313        11,195        8.3 % 

Net sales

    $ 138,773      $ 102,548      $ 36,225        35.3 % 

Segment gross profit

    $ 22,367      $ 12,685      $ 9,682        76.3 % 

Segment gross profit percentage

      16.1 %      12.4 %     

Segment operating income

    $ 11,814      $ 4,435      $ 7,379        166.4 % 

Price per pound

    $ 0.954      $ 0.764      $ 0.190        24.9 % 

Segment operating income per pound

    $ 0.081      $ 0.033      $ 0.048        145.5 % 
     Three months ended August 31,  

LATAM

    2014     2013     Increase (decrease)  
     (In thousands, except for %’s and per pound data)  

Pounds sold

      36,018        40,542        (4,524 )      (11.2 )% 

Net sales

    $ 49,565      $ 51,962      $ (2,397 )      (4.6 )% 

Segment gross profit

    $ 6,228      $ 8,475      $ (2,247 )      (26.5 )% 

Segment gross profit percentage

      12.6 %      16.3 %     

Segment operating income

    $ 2,102      $ 4,939      $ (2,837 )      (57.4 )% 

Price per pound

    $ 1.376      $ 1.282      $ 0.094        7.3 % 

Segment operating income per pound

    $ 0.058      $ 0.122      $ (0.064 )      (52.5 )% 

     Year ended August 31,  

USCAN

    2014     2013     Increase (decrease)  
     (In thousands, except for %’s and per pound data)  

Pounds sold

      526,845        501,640        25,205        5.0 % 

Net sales

    $ 475,050      $ 400,449      $ 74,601        18.6 % 

Segment gross profit

    $ 73,278      $ 52,906      $ 20,372        38.5 % 

Segment gross profit percentage

      15.4 %      13.2 %     

Segment operating income

    $ 30,418      $ 16,643      $ 13,775        82.8 % 

Price per pound

    $ 0.902      $ 0.798      $ 0.104        13.0 % 

Segment operating income per pound

    $ 0.058      $ 0.033      $ 0.025        75.8 % 
     Year ended August 31,  

LATAM

    2014     2013     Increase (decrease)  
     (In thousands, except for %’s and per pound data)  

Pounds sold

      142,172        152,274        (10,102 )      (6.6 )% 

Net sales

    $ 198,313      $ 200,375      $ (2,062 )      (1.0 )% 

Segment gross profit

    $ 26,239      $ 28,409      $ (2,170 )      (7.6 )% 

Segment gross profit percentage

      13.2 %      14.2 %     

Segment operating income

    $ 8,388      $ 11,708      $ (3,320 )      (28.4 )% 

Price per pound

    $ 1.395      $ 1.316      $ 0.079        6.0 % 

Segment operating income per pound

    $ 0.059      $ 0.077      $ (0.018 )      (23.4 )% 

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

SEC Filings