Calumet Specialty Products Partners fourth quarter 2012 net income was up compared to the year earlier quarter, and its full year 2012 net income was far larger than in 2011.
Indianapolis-headquartered Calumet reported net income of $45.7 million for the quarter ended Dec. 31, 2012, up 69.9 percent from $26.9 million in 2011s fourth quarter.
For the full year 2012, Calumets net income reached $205.7 million, up 378.4 percent from $43 million in 2011.
Fourth quarter sales revenue for Calumet topped $1.2 billion, up 20 percent from $1 billion in 2011s fourth quarter. For all of 2012, sales revenue for Calumets specialty products reached $4.7 billion, 48.6 percent higher than the $3.1 billion total for 2011.
Our fourth quarter results reflect an increase in gross profit as compared to the prior year period from both our legacy business and from our acquisitions completed in 2012, said Calumet CEO Bill Grube. The companys acquisitions completed in 2012 included blender and distributor TruSouth Oil, commercial and industrial lubricants producer Royal Purple and Ashland subsidiary Hercules aviation and refrigerant lubricants business.
Specialty product sales volumes in the fourth quarter amounted to 41,940 barrels per day, up slightly from the year earlier period. Calumets specialty products segment sales volumes in 2012s fourth quarter included 13,787 b/d of lubricating oils, 8,995 b/d of solvents, 1,314 b/d of waxes and 1,379 b/d of packaged and synthetic specialty products.