June

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

 

April 23, 2015

PRESS RELEASE

Detrex Corporation Reports Improved Sales and Earnings for First Quarter of 2015 and Announces a Second Quarter Dividend of $0.25 Per Share

Southfield, Michigan – April 23, 2015 - Detrex Corporation (OTCQX:DTRX), today announced 2015 first quarter net income of $712,951, or $0.41 per fully diluted share, compared to 2014 first quarter net income of $541,945, or $0.31 per fully diluted share. The Company also announced that it will pay a second quarter dividend of $0.25 per share on June 24, 2015 to shareholders of record on June 10, 2015.

First quarter 2015 revenues of $10.9 million improved from the fourth quarter 2014 level of $9.7 million and $10.2 million in the year ago first quarter. The 7.4% year-over-year revenue improvement was the result of gains in several product lines and improved sales of a product that tends to fluctuate in volume from month to month. Strong revenue growth in the domestic market and portions of Asia contributed to the sales improvement. Earnings were up for the quarter driven largely by the increased volume.

President and CEO Tom Mark said “We are pleased that the investments we have made in Elco’s capabilities over the past few years are beginning to generate a return in improved sales and earnings. In the year to come we will continue to emphasize growth while we evaluate and embrace strategic opportunities to generate shareholder value.”

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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