Stepan reports fourth consecutive year of record earnings

摘要

Stepan Co reported record earnings for the year ended Dec 2011. Net income rose 10% year on year to $72 M, compared to $65.4 M in 2010, the fourth consecutive year of income increases. Net sales for 2011 were up 29% to $1.843 bn compared to $1.431 bn in 2010. Sales volume rose 3% and higher average selling prices, resulting from higher material costs and an improved mix of higher-priced products, accounted for a 24% increase in sales figures. For 4Q 2011, net income was up 55% to $13.18 M on 23% higher net sales of $444.2 M.