TOR Minerals back in the black after two years of losses
Published: Monday, 09 May 2016
Texas, US-based TOR Minerals International Inc. has reported a profit in Q1 2016 for the first time in almost two years after the company divested its synthetic rutile production facilities, which were unable to produce at a profit consistently. Although the company is still facing difficult market conditions in TiO2, its alumina and sulphate businesses have shown potential for profitable growth.
TOR minerals reported net income of $244,000 in Q1 2016, up
from a net loss of $190,000 for the same quarter in
2015.Overall revenue declined 5% to $9.6m in Q1, as increased
speciality alumina sales were offset by titanium dioxide (TiO2)
pigment declines.Gross margin improved to 13.8% of sales
compared with 8.8% of sales...