LSB impacted by outages, insurance recoveries; Pryor ammonia plant in start-up mode

摘要

Chemical unit outages and insurance recoveries had a major impact on LSB Industries Inc. in the fourth quarter and year ending Dec. 31,2013, with fourth-quarter net income up at $37.3 million ($1.58 per diluted share) on sales of $149 million, up from the year-ago $ 11.6 million ($0.49 per share) and $ 177.1 million. Absent a $76.2 million insurance recovery during the quarter, LSB had an adjusted net loss applicable to common shareholders of $8 million ($0.35 per share). "Full-year 2013 results in our Chemical business reflect downtime during the first half of the year at our Cherokee facility and intermittently throughout the year and for most of the fourth quarter at our Pryor facility," said Jack Golsen, LSB chairman and CEO.