Stepan reports rise in net income, drop in sales for fourth quarter

Stepan (Northfield, IL) reports a 17% increase in fourth-quarter net income, to $15.4 million year-on-year (YOY). Net sales fell 4%, to $427 million, because of lower selling prices resulting from lower raw material costs and foreign currency impacts, the company says. In Stepan's surfactants unit, sales dropped 6%, to $310 million, on a 20% gross profit increase, to $51.6 million for the quarter. Sales volumes grew in the segment because of higher-value added surfactants used in agricultural products, and household and industrial cleaning products...

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