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Innospec net income declines despite sales increase

11:28 AM MST | November 6, 2013 | Vincent Valk

Innospec today reported third-quarter net income down 9.7% year-on-year (YOY), to $14 million, or 58 cts/share, on sales up 5%, to $192.8 million. Adjusted earnings totaled 65 cts/share, flat YOY, Innospec says, Fuel specialties segment sales were up 8% YOY, to $137.4 million, while segment operating income rose 13.8%, to $22.3 million. Volumes were up 4%, and the Strata control acquisition also led to improved sales. Performance chemicals segment sales, which includes personal care, fragrances, and polymers, were up 2% YOY, to $47.9 million, while segment...

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