NewMarket Corporation Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012
January 28, 2013 at 05:01 pm EST
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NewMarket Corporation announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported operating profit of $69.754 million, income before income tax expense of $67.8 million and net income of $53.1 million or $3.94 per diluted share on total revenue of $516.2 million compared to operating profit of $56.519 million, income before income tax expense of $50.7 million and net income of $33.7 million or $2.51 per diluted share on total revenue of $505.6 million a year ago period. EBITDA was $80.520 million compared to $65.950 million a year ago period. Adjusted EBITDA was $80.216 million compared to $67.313 million a year ago period.
For the full year, the company reported operating profit of $365.476 million, income before income tax expense of $341.4 million and net income of $239.6 million or $17.85 per diluted share on total revenue of $2,223.3 million compared to operating profit of $340.585 million, income before income tax expense of $303.7 million and net income of $206.9 million or $15.09 per diluted share on total revenue of $2,149.6 million a year ago period. Capital expenditures were $38.753 million compared to $53.515 million a year ago period. EBITDA was $393.520 million compared to $364.286 million a year ago period. Adjusted EBITDA was $408.798 million compared to $343.146 million a year ago period.
NewMarket Corporation is a holding company operating through its subsidiaries, Afton Chemical Corporation (Afton), Ethyl Corporation (Ethyl), and American Pacific Corporation (AMPAC). The Afton and Ethyl companies develop, manufacture, blend, and deliver chemical additives that enhance the performance of petroleum products. AMPAC is a manufacturer of specialty chemicals used in solid rocket motors for the aerospace and defense industries. Its Petroleum Additives segment manufactures chemical components that are selected to perform one or more specific functions and combine those chemicals with other chemicals or components to form additive packages for use in specified end-user applications. Ethyl provides contracted manufacturing and related services to Afton and to third parties and is a marketer of antiknock compounds in North America. Its subsidiaries, NewMarket Services Corp, provide various administrative services; and NewMarket Development Corp, manages the real property.