Stepan Co reported full-year net income of $79.4 M in 2012, up 10% compared to $72 M in 2011. Net sales revenue for the year fell 2% to $1.80 bn due to lower selling prices and currency effects, but sales volume grew 2%. Operating expenses, including R&D and administrative costs, increased as a result of a higher headcount to support growth initiatives, the company reported. During 4Q 2012, net income rose 17% year-on-year to $15.4 M, thanks mainly to lower feedstock prices and an improved product mix in surfactants. Sales totalled $427.3 M, a 4% decline. The surfactants division posted net sales of $310 M in 4Q 2012 and $1.30 bn for the full year, down 6% and 4% respectively.
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