Innospec Q1 Profit Declines - Quick Facts

(RTTNews) - Innospec Inc. (IOSP) reported first-quarter net income of $16.9 million, or $0.69 per share, compared to $18.0 million, or $0.75 per share, a year ago, principally reflecting the expected slow quarter in the Octane Additives business. Adjusted non-GAAP earnings per share was $0.54, for the quarter.

On average, three analysts polled by Thomson Reuters expected the company to report profit per share of $0.67 for the quarter. Analysts' estimates typically exclude special items.

Total net sales were $220.7 million, up 11 percent from $199.4 million, last year.

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.