Innospec Inc. (Nasdaq:IOSP) is an international specialty chemicals company with approximately 850 employees in 20 countries. Innospec manufactures and supplies a wide range of specialty chemicals to markets in the Americas, Europe, the Middle East, Africa and Asia-Pacific.
Innospec Inc. yesterday announced its financial results for the fourth quarter and full year ended December 31, 2011. Total net sales for the fourth quarter were $200.5 million, a 13% increase from $177.3 million in the corresponding period last year. Net income was $19.6 million, or $0.82 per diluted share, compared with $24.3 million, or $0.98 per diluted share, a year ago. The period-over-period differential in reported net income is principally due to a $4.3 million swing in foreign exchange and a tax charge of $0.4 million, compared to a $7.8 million tax credit a year ago. EBITDA (earnings before interest, taxes, depreciation, amortization and impairment) for the quarter was $24.5 million, a 13% increase from $21.6 million reported a year ago.
Results for the fourth quarter include several special items, which are summarized in the table below. For the fourth quarter of 2011, these items had a combined negative impact of $3.7 million, or $0.15 per diluted share; a year ago, similar items reduced net income by $2.1 million, or $0.09 per diluted share. Excluding these items from both periods, diluted earnings per share for the fourth quarter of 2011 were $0.97, a decrease from $1.07 a year ago.
For more information about Innospec, please visit www.innospecinc.com
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Silicon Graphics International (NASDAQ:SGI), the trusted leader in technical computing, announced that Total S.A. has selected SGI to provide a high performance computing (HPC) solution capable of delivering compute power of 2.3 petaflops per second, making it the clear leader - for commercial usage - anywhere in the world. The new system will consist of the latest generation of SGI® ICE X™ servers, and greatly increases the already vast data processing power previously available to Total at their Jean Féger Scientific and Technical Centre (CSTJF) in Pau, southwest France.
SGI, the trusted leader in technical computing, is focused on helping customers solve their most demanding business and technology challenges. Speed and scale is in our DNA. Visit sgi.com for more information.
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Global Sources (NASDAQ:GSOL) announces that the 17th IIC-China Conference & Exhibition (IIC-China) will run from February 23-25 at the Shenzhen Convention & Exhibition Center. The Smartphone Conference on the opening day will feature keynote speaker Allen Wu, President of ARM China, who will speak on the future and evolution of Smartphones and its implications to mainland China’s design engineers.
Global Sources is a leading business-to-business media company and a primary facilitator of trade with Greater China.
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Network Equipment Technologies, Inc. (NASDAQ:NWK) announced that is has successfully received multiple Microsoft qualifications under the Unified Communications Open Interoperability Program (UCOIP). The UCOIP qualification program for enterprise telephony services and infrastructure ensures that customers have seamless experiences with setup, support, and use of qualified telephony infrastructure and services in conjunction with Microsoft’s unified communications software, including Lync Server and Exchange Server. Only products that meet rigorous and extensive testing requirements and conform to the specifications and test plans receive qualification. For additional UCOIP information, please visit: http://technet.microsoft.com/UCOIP.
Network Equipment Technologies, Inc. (NET) delivers high performance networking equipment optimized for real-time communications. For more than a quarter of a century, NET has delivered solutions for multi-service networks requiring high degrees of versatility, security and performance.
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