Tribune staff report | Stepan Co. on Tuesday reported a strong fourth quarter and record annual earnings as a result of improved cost controls, lower raw materials costs and better results in all its business units.
The Northfield-based maker of chemicals used in household, industrial and agricultural products said it earned $8.8 million, or 80 cents a share, compared with $1.7 million, or 15 cents a share in the year-ago period. For the year, Stepan’s net earnings rose 70 percent to $63 million, or $5.84 a diluted share.
F. Quinn Stepan, Jr., the firm’s president and chief executive said the
company was focused in global market share growth and new markets this
year, given the expectations for a slow economic recovery.
Read the financial statement: prnewswire.com
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