TPC revenues up 100 per cent in fourth quarter

Chemical industry supplier TPC has reported that revenues for the fourth quarter of fiscal 2010 increased 104 per cent to $531.8m (£340.1m), compared with $260.9m in last year’s fourth quarter, and rose 33 per cent from $400.7m in the immediately preceding fiscal 2010 third quarter. 

Fourth quarter net income was $14.4m, or $0.80 per diluted share, compared with $7.8m, or $0.44 per diluted share, for the prior year quarter and net income of $4.1m, or $0.23 per diluted share, for the immediately preceding quarter. 

Fourth quarter adjusted EBITDA was $35.5m, compared with $33.7m for the prior year quarter and $19.1m for the third quarter of fiscal 2010.