TOR Minerals reports strong recovery in profitability in Q2 2017, alumina revenue up 18%

<p>TOR Minerals International, Inc. announced its financial results for the second quarter ended June 30, 2017. The company reported sales increased 9 per cent to $10.7 million for the second quarter as compared to $9.9 million during the same period of 2016. The increase in revenue was mainly due to continued growth in specialty alumina sales.</p> <p>&ldquo;Specialty alumina sales primarily benefited from strong growth in Europe and growth of OPTILOAD to both existing and new customers in the U.S,&rdquo; according to the company&rsquo;s press release.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/TOR%20Minerals.png" alt="news" width="544" height="201" /></p> <p>The company&rsquo;s revenue of specialty aluminas stood at $6 million for the second quarter as compared to $5 million in the same period of 2016.</p> <p>Dr. Olaf Karasch, Chief Executive Officer, said,&nbsp; &ldquo;We saw continued strength in our Specialty Alumina business and are well positioned to continue double-digit growth in our largest product category.&nbsp; While flat in terms of revenue comparisons, our TiO2 business saw improving trends in Europe and Asia.&rdquo;</p> <p>{googleAdsense}</p> <p>Net income was $352,000 or $0.10 per diluted share in 2Q17, versus net income of $87,000, or $0.03 per diluted share in 2Q16.</p> <p>TOR Minerals International, headquartered in Texas, is a manufacturer and marketer of specialty mineral and pigment products for high performance applications.</p>