LSB Industries Inc. reports that it will continue its current operation strategy going forward, after studying whether to create a Master Limited Partnership company.
The company also reported a drop in fourth-quarter 2014 Chemical net income to $4.5 million on sales of $109.2 million, compared to the year-ago $67.5 million and $77.7 million, respectively. However, the year-ago quarter included a $76.2 million insurance recovery. Company-wide, LSB reported fourth-quarter net income of $657,000 ($0.03 per diluted share) on sales of $181.3 million compared to the year-ago $37.3 million ($1.58 per share) and $149 million, respectively.
For the full-year LSB reported net income of $19.6 million ($0.83 per share) on sales of $732.5 million versus 2013’s $55 million ($2.33 per share) and $679.3 million, respectively. Full-year Chemical income was $51.3 million on sales of $454.9 million, down from 2013’s $87.8 million and $380.7 million, respectively.