Innospec Inc. (IOSP: Quote) Wednesday reported a decline in profit for the second quarter, due mainly to lower revenues.
The Littleton, Colorado-based company's second-quarter net profit was $15.5 million or $0.65 per share, compared to $24.6 million or $1.00 per share last year.
Adjusted income for the quarter declined to $18.9 million or $0.79 per share from $20.7 million or $0.85 per share in the prior-year quarter. On average, three analysts polled by Thomson Reuters expected the company to earn $0.79 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter dropped to $178.5 million from $186.5 million in the prior-year quarter.
Click here to receive FREE breaking news email alerts for Innospec Inc. and others in your portfolio
by RTT Staff Writer
For comments and feedback: firstname.lastname@example.org