June

DETREX CORPORATION - (DTRX:PK) Contact: Thomas E. Mark
Phone: (248) 358-5800 FAX: (248) 799-7192

 

April 23, 2014

PRESS RELEASE

Detrex Corporation Reports Earnings for First Quarter of 2014 and Announces a Second Quarter Dividend

Southfield, Michigan – April 23, 2014 - Detrex Corporation (OTCQX:DTRX), today announced 2014 first quarter net income of $541,945, or $0.31 per fully diluted share, compared to 2013 first quarter net income of $1,038,653, or $0.60 per fully diluted share. The Company also announced that it will pay a second quarter dividend of $0.25 per share on June 24, 2014 to shareholders of record on June 10, 2014.

First quarter 2014 revenues of $10.2 million improved from the fourth quarter 2013 level of $8.5 million, however, the first quarter was still $1.0 million below the year ago first quarter. The 8.8 % year over year revenue reduction was largely the result of reduced sales of a product line that tends to fluctuate in volume from month to month. A portion of this reduction was offset by growing sales in China and with a number of products that have been introduced recently. The first quarter 2014 sales represent an improvement over fourth quarter 2013 sales as the result of increased demand in certain segments. Significant investments continued to be made in product development, geographic expansion and strengthening the Company’s capacity and capabilities.

President and CEO Tom Mark said “We are pleased with the improvement in sales from the fourth quarter of 2013 while our markets continue to be slow in certain areas. The Elco team is making investments to enhance capacity, capability, market position and products that we believe will lead to strong future performance. We will continue to evaluate and embrace strategic opportunities to generate shareholder value and we look forward to keeping you informed of our progress.”

About Detrex Corporation
Founded in 1925, Detrex Corporation through its subsidiary The Elco Corporation is a leading manufacturer of high performance specialty chemicals including additives for industrial petroleum products and high purity hydrochloric acid.

Forward Looking Statements
Statements included in this press release that are not historical in nature are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (the “1995 Act”). The words “believe,” “expect,” “anticipate,” “estimate,” “guidance,” “target” and similar expressions identify forward-looking statements. The Company cautions readers that forward-looking statements are subject to certain risks and uncertainties, which could cause actual results to differ materially from those projected in the forward-looking statements. Certain risks and uncertainties are identified from time to time in the Company’s reports. Some factors that could cause results to differ materially from those projected in the forward-looking statements include: market conditions, environmental remediation costs, pension expense and funding requirements, liquidation value of assets, and marketability of real estate and the market value and future liquidity of Detrex stock. The Company claims the protection of the safe harbor for forward-looking statements contained in the 1995 Act.

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