This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Innospec Reports First Quarter 2014 Financial Results

Stocks in this article: IOSP

Revenues up 11 percent from last year, aided by strong contributions from organic growth and acquisitions in the core businesses

Increased dividend by 8% to $0.27 per share for the first half of 2014

Strong balance sheet with operating cash inflows of $20.9m in the quarter; net debt reduced to $43.8 million

ENGLEWOOD, Colo., May 6, 2014 (GLOBE NEWSWIRE) -- Innospec, Inc. (Nasdaq:IOSP) today announced its financial results for the first quarter ended March 31, 2014. At the same time, the Company announced a biannual dividend of $0.27 per common share for the first half of 2014, which will be paid on May 28, 2014, to shareholders of record on May 19, 2014, an 8 percent increase from the 2013 payment.

Total net sales for the quarter were $220.7 million, up 11 percent from the $199.4 million reported in the corresponding quarter last year. Net income was $16.9 million, or $0.69 per diluted share, compared to $18.0 million, or $0.75 per diluted share, recorded a year ago, principally reflecting the expected slow quarter in the Octane Additives business. EBITDA (earnings before interest, taxes, depreciation, amortization and impairment) for the quarter was $27.1 million, a 3 percent decrease from $27.9 million in 2013's first quarter, again negatively impacted by the slow quarter for Octane Additives.

Results for this quarter include after-tax foreign currency exchange gains of $1.5 million, or $0.06 per diluted share, and gains from the adjustment of income tax provisions of $2.2 million, or $0.09 per diluted share. Excluding these items, adjusted non-GAAP EPS was $0.54 per diluted share, compared to $0.72 per diluted share a year ago. Cash generation for the quarter was strong, with operating cash inflows of $20.9 million, before capital expenditures during the quarter of $3.9 million. Innospec closed the quarter in a net debt position of $43.8 million, significantly reduced from $61.2 million at the end of 2013.

1 of 6

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs