Calumet Specialty Products 1Q 2013 Net Income Dips Year-on-Year

摘要

Indiana-based Calumet Specialty Products Partners announced May 8 that its first-quarter (1Q) 2013 net income fell year-on-year to US$46 million, from $51.9 million in 1Q 2012. The decline in 1Q 2013 net income was “primarily due to an $18 million decrease in realized derivative gains, an $11.4 million increase in general and administrative expenses, an $11.4 million increase in selling expenses ($6.2 million of which was noncash amortization expense), a $7.9 million increase in transportation expense and a $6.2 million increase in interest expense, all partially offset by a $50.2 million increase in gross profit,” according to Calumet.