Sovereign Specialty Chemicals says its operating results for the three months ended June 30, 2004, showed net sales of $106.4M, compared with $92.6M for the three months ended June 30, 2003. Operating income was $12.7M ($9.1). Adjusted for costs, operating income was $12.8M for the second quarter ($9.6M). Similarly, for the six months ended June 30, 2004, operating income was $22.4M, compared with $16.8M for 2003.
Commenting on the results, ceo Norman E Wells, Jr, stated: "Sovereign had a solid quarter. Our performance was highlighted by revenue growth in both segments when compared to last year's second quarter. This growth, coupled with the full impacts of our previously announced plant rationalizations and manufacturing improvement initiatives resulted in significantly higher operating income."
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