22 February 2017
DETAILS
Full Year Highlights
- Reported net income was a record
$86.2 million ,
or$3.73 per diluted share,
a 13% increase
versus$76.0 million , or$3.32 per diluted share,
in the prior year.
Adjusted net income was a record$98.2 million ,
or$4.25 per diluted share,
a 24% increase
versus$79.4 million , or$3.46 per diluted share,
in the prior year.*
- Surfactant operating income was
$99.8 million ,
a 4% decrease versus prior year.
The Polymer segment delivered
its seventh consecutive year of record operating income
with$96.8 million , a 20% increase versus prior year.
Specialty Product operating income
was$10.7 million versus$4.4 million in the prior year. - Total company sales volume increased 6%.
Surfactant, Polymer and Specialty Product
sales volume increased 5%, 12% and 8%, respectively. - The effect of foreign currency translation
negatively impacted net income by$2.7 million ,
or$0.12 per diluted share, versus prior year
President and Chief Executive Officer
"2016 was a very good year
as the Company delivered
record reported and adjusted net income,"
"Strong global Polymer volumes,
increased asset utilization and
enhanced internal efficiencies
continued to deliver results.
SOURCE : Stepan Company
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