Innospec has Strong First Quarter; Sales and Earnings Increase

Innospec’s first-quarter 2012, ended March 31, net earnings were up 14% year-on-year, to $24.6 million. The increase in net income is due to strong Octane Additives trading performance offset by lower foreign currency exchange gains. Adjusted earnings grew 5%, to $35.2 million and exclude EBITDA and after-tax currency exchange gains. Adjusted earnings of $1.03/share grew above analysts’ estimates of 94 cts/share, according to Thomson Reuters (New York). The company’s net sales increased 8%, to $200.8 million. "This was a very good...

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