TPC reports year-on-year revenues gain

TPC, a producer of value-added products derived from petrochemicals, has reported revenues of $400.7m (£271.7m) for the third quarter of fiscal 2010, compared with $162.6m in last year’s third quarter and $415.8m in the fiscal 2010 second quarter. 

Net income was $4.1m, or $0.23 per diluted share, compared with a net loss of $5.3m, or $0.30 per diluted share, for the prior-year quarter and a net income of $8.4m, or $0.47 per diluted share, for the immediately preceding quarter. 

Adjusted EBITDA was $19.1m, compared with $5.4m for the prior-year quarter and $27.2m for the second quarter of fiscal 2010.