Innospec Inc. (IOSP) Monday reported first-quarter net income of $18.0 million or $0.53 per share, down from $24.6 million or $0.82 per share a year ago.
Excluding special items, earnings for the quarter were $0.75 per share, a decrease from $1.03 a year ago.
Meanwhile, total net sales for the first quarter dropped to $199.4 million from $200.8 million in the corresponding period last year.
Analysts polled by Thomson Reuters estimated earnings of $0.85 per share and revenues of $208.20 million for the quarter. Analysts' estimates typically exclude one-time items.
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