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NewMarket reports higher net income

11:04 AM MDT | July 31, 2013 | Lindsay Frost

NewMarket Corp. today reported second quarter net income of $64 million—up 16% year-over-year. Net income excluding discontinued operations and special items was $61.3 million, down 2.2% YOY. Sales for the quarter dropped 1% YOY, to $583.8 million. “Sales volume was softer than expected due to a slower than expected economic recovery in our customers’ markets,” says Thomas Gottwald, president and CEO of NewMarket.  The petroleum additives segment, which comprises Afton Chemical and Ethyl, delivered strong performance in the...

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