HOFFMAN ESTATES, Ill. (AP) â¿¿ Mineral producer Amcol International Corp. reported a profit for the fourth quarter on higher revenue after losing money in the same period a year earlier.
The company, which mines minerals like clay to sell for industrial uses, said Friday that its net income for the quarter ended Dec. 31 was $13.7 million, or 43 cents per share, compared to a net loss of $9.4 million, or 30 cents per share, a year earlier.
Revenue rose 6.5 percent to $233.7 million from $219.4 million during the prior year period.
CEO Ryan McKendrick said fourth-quarter sales were in line with what the company expected, and results were boosted by demand from clients in the energy industry. Demand for oil drilling fluids should remain strong in 2012, McKendrick said in a statement.For the full year, Amcol reported net income of $59.1 million, or $1.86 per share, almost double the $30.4 million, or 97 cents per share, the previous year. Revenue rose to $942.4 million from $841 million. Its shares slipped 5 cents to $29.31 in afternoon trading Friday.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV