Richmond, VA, May 4, 2005 – NewMarket Corporation (NYSE:NEU) filed its first quarter 2005 Form 10-Q with the Securities and Exchange Commission today. The following summary and financial statement are from that filing.
First quarter 2005 net income was $4.8 million, or $.28 per share, compared to net income of $5.8 million, or $.35 per share, for the first quarter last year. The results reflect lower earnings in both the petroleum additives and TEL segments.
Petroleum additives net sales for the first quarter 2005 improved 10 percent compared to the same period last year. However, the continuing increases in raw material costs have reduced our margins. TEL operating profit was lower in first quarter 2005 compared to the same period last year primarily reflecting lower shipments partially offset by an increase in selling price. Net income for first quarter 2005 benefited from lower corporate and administrative cost, as well as lower interest and financing cost.
For a thorough discussion of our operating results and related matters as well as our unaudited financial statements for the first quarter 2005, please see our first quarter Form 10-Q, which is available free of charge on the SEC’s Internet website at www.sec.gov and through our Internet website at www.newmarket.com under Investor Relations, SEC Filings.
As a reminder, a conference call and Internet web cast is scheduled for 10:00 A.M. EDT on Friday, May 6, 2005, to review first quarter 2005 results. You can access the conference call live by dialing 877-407-8031 (domestic) or 201-689-8031 (international) and requesting the NewMarket conference call. To avoid delays, callers should dial in five minutes early. The call will also be broadcast via the Internet and can be accessed through the Company’s website at www.NewMarket.com or www.vcall.com. A teleconference replay of the call will be available until May 9, 2005 by dialing 877-660-6853 (domestic) and 201-612-7415 (international). The account number is 286. The conference ID number is 150305. A webcast replay will be available for 30 days.
NewMarket Corporation through its subsidiaries, Afton Chemical Corporation and Ethyl Corporation, develops, manufactures, blends, and delivers chemical additives that enhance the performance of petroleum products. From custom-formulated chemical blends to market-general additive components, the NewMarket family of companies provides the world with the technology to make fuels burn cleaner, engines run smoother and machines last longer.
For Investor Information, Contact:
NewMarket Corporation, Richmond
Investor Relations: David A. Fiorenza, 804-788-5555
Additional Financial Information (PDF)