TPC's Profit Rises on Strong Sales and High Volumes

TPC Group reported net income of $14.4 million, or 80 cts/share, in its fiscal fourth-quarter ended June 30, up 85% from the year-ago period on higher selling prices and improved sales volumes. Adjusted EBITDA (earnings before interest, taxes, depreciation, amortization and additional items) was $35.5 million, up 5.3% from the year-ago quarter. The improvement reflected a $15.6 million increase in gross profit, as a result of improved margins, partially offset by a $1.3 million increase in plant operating expenses, a $2.5 million increase in corporate and other...

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